This indicator uses bars tick volume data to make some inferences about bars, like is a bar strong, weak, or noise? is it bullish or bearish?
The way represents its data makes it a much better alternative to platform default tick volume, you will be able to clearly distinguish noise from real price movement very quickly.
You will be amazed at the accuracy of this indicator, by using Advanced volume the indicator separates a bar bullish and bearish volume, then it uses a minimum percentage threshold to classify it as either strong or weak bullish/bearish bar.
For filtering noise bars it uses the average bar range, which uses a moving average on bars range size and checks the current bar range with moving average value if the bar range was lower than moving average value then it’s a noisy bar.
Its designed to be used as an alternative for default cTrader tick volume bars.
- Separates strong and weak bullish/bearish bars
- Filter out the noise
- Easy to use with just two parameters
- Works on all symbols
- Ignores the bar open/close price and instead looks at the amount of bullish/bearish volume