Color Labels Showing the Direction of Price-Volume Histogram Bars
Summary
The document describes an MQL5 indicator called i-KlPrice_Vol_Direct. It adds colored labels to the histogram bars of the related i-KlPrice_Vol indicator to show the direction in which those bars are moving. The stated purpose is to make the histogram’s direction easier to read visually; the text does not define a separate trading strategy or explain how a trader should act on the labels.
The indicator depends on classes from the SmoothAlgorithms.mqh library, which the document says must be copied into the terminal’s MQL5 include directory. It points readers to an article for an explanation of those classes and identifies the indicator as a translation from Russian. No calculation details, market examples, tests, or performance evidence are provided. The description is therefore useful as a concise account of the indicator’s visual function and software dependency, but it does not support claims about signal quality or trading outcomes.
Key ideas
- The indicator adds colored labels to histogram bars to show their direction of movement.
- It is designed for the related price-volume histogram indicator.
- Its implementation depends on classes in the SmoothAlgorithms library.
- The document gives no formula, trading rules, or evidence about signal performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.