An "Intraday" indicator makes no sense anymore above H1 !!
VOHLC is calculated using the following formula:
VOHLC= ( Price * Volume ) / Volume
Where
Price= ( Open + High + Low + Close ) / 4
Volume= Tick Volume
This indicator helps us to understand the current direction of the trend in the selected period.
Typically, the indicator is calculated for one day, so there is no reason to use it on timeframes larger than the H1 timeframe.
