The Harmonic Volatility indicator has become the first technical tool that uses Fibonacci levels to analyze market volatility. The indicator combines Fibonacci coefficients (0.618, 0.382, etc.) with trading volatility. Initially, the Harmonic Volatility indicator was developed as a way to overcome the limitations and weaknesses of the Gann angle, also known as the “Gann Fan”. We have demonstrated that the Harmonic Volatility indicator can be used on the chart similarly to the Gann angle (or Gann Fan). At the same time, since volatility is very important information for traders, the Harmonic Volatility indicator gives traders many other advantages. The Harmonic Volatility indicator can be combined with existing technical analysis tools or used as a completely independent tool. It is also an effective indicator for identifying a mature trend at the final stage. This tool can be used to determine important support and resistance levels, trend reversal points and trend strength.

If you understand the basic principle of trading, you can always diversify your trading ideas thanks to the Harmonic Volatility indicator. Examples:

• Possible trading settings 1 – using Harmonic Volatility Indicator as trading in zones (reversals and breakouts)
• Possible trading settings 2 – Harmonic Volatility Indicator and oscillators (reversals)
• Possible trading settings 3 – Harmonic Volatility Indicator and Market Profile (reversal trading styles and the ability to trade for a breakout)
• Possible trading settings 4 – Harmonic Volatility Indicator, Harmonic Pattern Plus and Market Profile (reversal trading)

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Common

• Number of Daily Session: The number of daily sessions, at 0 the indicator does not display volatility lines. At 1, the indicator displays one set of volatility lines. You can create multiple sessions of daily volatility lines. Too many sessions can slow down the operation of MetaTrader. Choose the optimal number for your computer.
• Number of Weekly Session: Same for weekly sessions.
• Number of Monthly Session: Same for monthly sessions.
• Starting Index: the initial index, by default 0. At 0, the indicator starts drawing from session 0.
• Use White Chart: True – white chart background.
• Use Individual Line Color: If false, use the general color scheme. If true, use an individual color scheme
• Daily Line Color: the color of the daily line
• Weekly Line Color: the color of the weekly line
• Monthly Line Color: the color of the monthly line
• Show Probability Lines: enable/disable the probability curve
• Show Final Projection: Enable/disable the trading zone field
• Final Projection Margin: field size

• Use Market Profile: enable/disable the market profile on the chart
• Session: Select only from daily, weekly or monthly
• SessionsToCount: the number of sessions to calculate the market profile
• Color for Market Profile: the color of the market profile
• Color for Median: the color of the median value
• Color for Value Area: the color of the value area

Each probability line can be enabled/disabled according to your preferences. The settings are the same for all nine lines.

• Use Line 1: Enable/disable the line
• Probability Line 1: Line coefficient
• Probability Line 1 Color: Line color
• Probability Line 1 Width: line width
• Probability Line 1 Style: Line style

The indicator actively uses graphical elements. Therefore, too many sessions of the indicator and the market profile can slow down the operation of MetaTrader. Accordingly, if you want to use an indicator with a large number of symbols, you need to choose the optimal number of sessions according to the characteristics of your computer.

Hotkey

D: Redraw the indicator on the chart.

Timeframe

With the Daily Harmonic Volatility session enabled, you cannot use the timeframes D1, W1 and MN. With the Daily Market Profile session enabled, you cannot use the timeframes H4, D1, W1 and MN.

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