Need To Develop A MTF Volume Strength
₹ 1,500.00 — 12,500.00 INR
Volume Strength Meter – Requirements
Task 1:
Volume Check:
The Values for the volume, will be displayed on the status bar for every candle.
Volume Period: This is basically the number of periods, in which the volume has to be calculated.
Volume Threshold: This gives the multiplier value.
Let’s say, if the average volume of 14 period is 100, when I keep the multiplier as 1.1, it should show, candles, which has a volume above 110.
For A Buy candle, the volume candle, should be denoted with Buy Arrow and Sell arrow for a Bearish Candle.
Task 2:
Incorporating MTF:
This indicator, should be capable of doing MTF.
I.e.
When I fix the value for TF as 15min, when it’s loaded on a 5Min chart, it should calculate the 15 Min volume along with the Threshold level.
Also, the indicator, should not repaint.
So, when this gets loaded on a 5Min chart, with 15Min TF inputs, it should show arrows only at 00:00, 00:15, 00:30, and 00:45.
Task 3:
Calculating on Multiple Currency Pairs:
On, every candle, it should calculate the volume on all the Forex Pairs.
If there is no volume above the threshold, detected on a candle it should be marked as 0.
If there is a BULLISH volume threshold candle, detected on any currency pair, it should be marked as 1
If there is a BEARISH volume threshold candle, detected on any currency pair, it should be marked as -1.
Please understand that we are calculating the volume strength of the currency and not as pairs.
When there is a Bullish Volume candle on a EURUSD chart, it means,
EUR- +1
USD -1
If there’s a Bearish candle on EURUSD, it means,
EUR -1
USD +1
Now, on all the 28 pairs, the volume threshold has to be calculated and the data buffer window, should be arranged only in the following order.
EUR
GBP
AUD
NZD
USD
CAD
CHF
JPY
Task 4:
Show Arrows above or Below the Strength Level:
The Maximum value any currency have is +7 and -7.
So, if I fix the value as 3, it should arrows, only above +3 and below -3
Please note, if I fix the value as 3 and the arrow appears for buy at 10:00 and then by 10:30, if another arrow appears with volume 4, that can be avoid.
Because, it’s already in buy.
In that case, the arrow, that might appear is -3 or above.
Task 5:
Buy Time / Sell Time in Data Buffer:
TASK 6:
Show All Currencies
True/False
Check the Data Buffer for Show all Currencies Option in the Data Buffer Window/
Please check the below link, where I have attached a detailed explanation video and excel too for your references:
https://drive.google.com/drive/folders/1-ah2sqx-oCVKp19Nd5OxyUZjYgT9WQoU?usp=sharing