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Effective Volume (Weighted by candle pattern)

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This is a indicator using candle : wick ratio to obtain a weighted volume.

useful for trader using volume-price action strategy.

the mechanism is easy:-

when it is full bullish / full bearish bar, the weighted volume exactly equal to the volume itself.

when it is a total wick bar , the weighted volume will be half of that time-frame volume

the weighted formula is simple mathematics due to body : wick ratio.

However, I find that it useful for me.

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