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Equivolume is a chart that comperes price and volume. On the chart, the height of each bar represents the “high” and “low” while the width of the bar represents the volume, over a specific time period.
Equivolume in algo-trading (With Expert advisor)
Equivolume charts are an excellent tool for analysis changes in volume. An EA that can use Equivolume chart data, can basically identify the volume and price changes, when they start, and buy or sell.
Equivolume chart as it looks inside the mt4 metatrader
Taken from – http://www.investopedia.com/