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Volumetric Order Blocks
This indicator aims to identify significant price zones based on a combination of price action and volume analysis.
It utilizes the concept of "Order Blocks," which are areas on the chart where large orders are believed to have been placed, influencing price behavior. By analyzing price swings and volume activity, the indicator attempts to highlight potential support and resistance levels.
Strength Calculations:
The indicator calculates the relative strength of bullish and bearish blocks based on volume. A higher bullish strength indicates stronger buying pressure, while higher bearish strength suggests more selling pressure.
It utilizes the concept of "Order Blocks," which are areas on the chart where large orders are believed to have been placed, influencing price behavior. By analyzing price swings and volume activity, the indicator attempts to highlight potential support and resistance levels.
Strength Calculations:
The indicator calculates the relative strength of bullish and bearish blocks based on volume. A higher bullish strength indicates stronger buying pressure, while higher bearish strength suggests more selling pressure.
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