Possible Trading Setup and Strategies
As long as you understand the basic trading principle, you can always expand your trading with different ideas using Harmonic Volatility Indicator. Here are some examples:
- Possible Trading Setup 1 – Harmonic Volatility Indicator as zone trading (reversal and breakout trading setup)
- Possible Trading Setup 2 – Harmonic Volatility Indicator and common oscillators (reversal trading setup)
- Possible Trading Setup 3 – Harmonic Volatility Indicator and Market Profile (reversal trading styles and possible to trade with breakout mode)
- Possible Trading Setup 4 – Harmonic Volatility Indicator and Harmonic Pattern Plus and Market Profile (reversal trading setup)
Harmonic Volatility Indicator Settings
These inputs control the global setting of the indicator.
- Number of Daily Session: 0 means indicator will not draw any daily volatility lines. 1 means that indicator will draw one set of daily volatility lines. You can create multiple session of daily volatility lines. However, too many sessions can slow down your MetaTrader. So use the right number for your computer.
- Number of Weekly Session: It is the same as daily session input.
- Number of Monthly Session: It is the same as daily session input.
- Starting Index: 0 is default value. For 0, indicator will start to draw from session 0.
- Use White Chart: True means that you will use white background chart.
- Use Individual Line Color: If this is false, then you will use global color scheme. If this is true, then you can use individual color scheme
- Daily Line Color: Color of daily line
- Weekly Line Color: Color of weekly line
- Monthly Line Color: Color of monthly line
- Show Probability Lines: switch on and off the curved probability line
- Show Final Projection: switch on and off the trading zone box
- Projection Margin: size of trading Zone (0.05 = 5%, 0.0618 = default)
Market Profile Settings
- Use Market Profile: Switch on and off market profile from your chart
- Session: choose from daily, weekly or monthly only
- SessionsToCount: Number of sessions for which to count the Market Profile
- Color for Market Profile: color for market profile
- Color for Median: color for median value
- Color for Value Area: color for value area
Input Setting for Each Probability Line
Each probability line can be switched on and off according to your preferences. You have the same setting for nine lines.
- Use Line 1: You can switch on and off the line
- Probability Line 1: You can set the ratio of the line
- Probability Line 1 Color: Color for line
- Probability Line 1 Width: width for line
- Probability Line 1 Style: style for line
Further Note about this indicator
This indicator is Graphic Intensive. Therefore, when you use too many session for harmonic volatility indicator and market profile, this can slow down your MetaTrader. So try to use right amount of session suit for your computer specs if you are going to use this indicators for many symbols.
Keyboard Short Cut
Press Keyboard D: Redraw harmonic volaltiy indicator from your chart.
When Daily Harmonic Volatility session is on, you can not use D1, W1 and MN1 timeframe. In addition, when Daily Market Profile session is on, you can not use H4, D1, W1 and MN1 timeframe.