ExVolV2: Candlestick Body Imbalance Indicator

Summary

ExVolV2 measures the difference between the summed bodies of rising candlesticks and the summed bodies of falling candlesticks over a chosen interval. It is an indicator based on candle body size, with the net difference intended to show which direction contributed more body movement during that window. The document identifies Alex Sidd as the author and notes an earlier MQL4 implementation.

The description is limited to the indicator's central calculation. It gives no precise interval settings, worked examples, trading signals, benchmark comparisons, or performance results. It also does not explain how to handle gaps, wick movement, or differing volatility regimes. As a result, the indicator can be understood as a directional candle-body measure, but the text alone does not establish how it should be interpreted or whether it has predictive value.

Key ideas

• ExVolV2 compares the summed bodies of rising candles with those of falling candles.
• Its output is the difference between these two totals over a chosen interval.
• The description focuses on candle bodies and does not specify how wicks are treated.
• No trading rules or performance evidence are provided.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.