MT5 not showing correct volumes for stocks
Hallo!I have just started using MetaTrader 5 to trade stock CFDs.Previously I have been using other platforms including Tradingview.
I have noticed that when I select the Volumes indicator from Insert ->Indicators ->Volumes ->Volumes,the volumes shown for stocks are not correct.First,the colors for Up Volume and Down Volume sometimes do not correspond to bullish and bearish candles on candlesticks.For instance,there could be a bullish candlestick on stocks denoted with a green candlestick but the corresponding volume bar is red in color.
If you check link and attachment below for Boeing Stock on MT5 that I have attached,one can see the last candlestick is a bearish red candlestick yet the corresponding volume bar is green.The second last candlestick is also red but volume bar is green and the third last candlestick is red and volume bar is correctly shown as red.There is no consistency in the colour of volume bars.
MT5 Being Stock Volumes not shown correctly link
https://imgur.com/p1BkOKI
Secondly,the size of the volume bars arent corresponding to actual volumes being traded and corresponding sizes of candlesticks.Most times if a candlestick is has a long bullish or bearish body,the corresponding volume bars are also taller showing more buy or sell volume.One cannot see this from MT5.In tradingview,the volumes are correctly shown with taller volume bars matching to large candlesticks with long bodies.Please see also the link and attachment of same Boeing chart from Tradingview especially where in the last 2 minutes of trading,there were large sell volumes denoted by long bodied bearish candles and taller volume bars showing higher selling volume to the close.These last 2 volume bars are much longer than previous bars thus a trader can see the selling volume was high into the close.From MT5 volume bars of the same Boeing chart,one cannot notice this increased volume as the MT5 volume bars are almost the same size so a trader cannot asses volume trends
TradingView Boeing Stock Volume being shown correctly
https://imgur.com/Nj0j9FI
How can I resolve my challenge?Is there an mq5 script I can download that shows correct volume or is there I can correct this in MT5 using its default indicators?
As far as the color is concerned ,the MT5 version displays green if the volume is higher than the previous volume ,and red if the volume is lower than the previous volume.
When it comes to Volume values ,there is a setting in the Indicator Settings with "Tick " and "Real "
As far as the color is concerned ,the MT5 version displays green if the volume is higher than the previous volume ,and red if the volume is lower than the previous volume.
When it comes to Volume values ,there is a setting in the Indicator Settings with "Tick " and "Real "
Ok.Thanks for the clarification.It seems then MT5 Tick and Real volumes may not support volume indicator like TradingView or other charting platforms.If its possible to get a script for such volume support ,please direct me to a customized script that achieves this.
You get a difference with both settings ?
Here is an indicator that colors both volumes based on bullish or bearish bars .
Top half is the Real Volume , bottom half is the Tick Volume inverted (-)
You get a difference with both settings ?
Here is an indicator that colors both volumes based on bullish or bearish bars .
Top half is the Real Volume , bottom half is the Tick Volume inverted (-)
However,the length of the volume bars doesnt correspond to the volume of actual buys/sells in the market.If one was to compare the TradingView volume indicator that I attached earlier (which I know is the correct volume indicator at least as per my specification) with the both real volume bar script provided (I put no color for tick volume bars) one can see especially in the last 10 minutes of trading,the Tradingview and the Both real volume bars dont match up.
Is it possible to get a script that aligns exactly with how Tradingview shows its volume indicator.Other platforms like TD Aneritrade thinkorswim or Interactive Brokers TWS platforms have exact same volume characteristics as TradingView.
Thanks for the scripts.The real volume is definitely an improvement from the default MT5 volume indicator.At least now bearish red candlesticks match with red volume bars and the same for green bullish candlesticks.
However,the length of the volume bars doesnt correspond to the volume of actual buys/sells in the market.If one was to compare the TradingView volume indicator that I attached earlier (which I know is the correct volume indicator at least as per my specification) with the both real volume bar script provided (I put no color for tick volume bars) one can see especially in the last 10 minutes of trading,the Tradingview and the Both real volume bars dont match up.
Is it possible to get a script that aligns exactly with how Tradingview shows its volume indicator.Other platforms like TD Aneritrade thinkorswim or Interactive Brokers TWS platforms have exact same volume characteristics as TradingView.
Thats something i cant answer as i dont know the source of data in mt5 .
Out of curiosity , is the TV indicator volumes or OnBalanceVolumes?
Thats something i cant answer as i dont know the source of data in mt5 .
Out of curiosity , is the TV indicator volumes or OnBalanceVolumes?
Trading at Exchange, real volume comes from Exchange. Should be same on all platforms. For CFD's it comes from your broker.
Thanks for the scripts.The real volume is definitely an improvement from the default MT5 volume indicator.At least now bearish red candlesticks match with red volume bars and the same for green bullish candlesticks.
However,the length of the volume bars doesnt correspond to the volume of actual buys/sells in the market.If one was to compare the TradingView volume indicator that I attached earlier (which I know is the correct volume indicator at least as per my specification) with the both real volume bar script provided (I put no color for tick volume bars) one can see especially in the last 10 minutes of trading,the Tradingview and the Both real volume bars dont match up.
Is it possible to get a script that aligns exactly with how Tradingview shows its volume indicator.Other platforms like TD Aneritrade thinkorswim or Interactive Brokers TWS platforms have exact same volume characteristics as TradingView.
Trading at Exchange, real volume comes from Exchange. Should be same on all platforms. For CFD's it comes from your broker.
Hmm ,i knew about CFD's ,this im not familiar with though . If its centralized then there is a calculation difference (will look in the documentation,thats why i asked about OBV -which i also dont know what it is)
so a :
- right click on boeing in the watch list
- click on specification
would enlighten the situation
You get a difference with both settings ?
Here is an indicator that colors both volumes based on bullish or bearish bars .
Top half is the Real Volume , bottom half is the Tick Volume inverted (-)
Thank you for the files. I've been searching for this for so long.
But one problem, I just need the tick volume, and your files show both tick and real volume which makes the indicator look complicated.
Do you have the script to show only the tick volume, and the volume color still matches the candles' volume?
Thanks
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I have noticed that when I select the Volumes indicator from Insert ->Indicators ->Volumes ->Volumes,the volumes shown for stocks are not correct.First,the colors for Up Volume and Down Volume sometimes do not correspond to bullish and bearish candles on candlesticks.For instance,there could be a bullish candlestick on stocks denoted with a green candlestick but the corresponding volume bar is red in color.
If you check link and attachment below for Boeing Stock on MT5 that I have attached,one can see the last candlestick is a bearish red candlestick yet the corresponding volume bar is green.The second last candlestick is also red but volume bar is green and the third last candlestick is red and volume bar is correctly shown as red.There is no consistency in the colour of volume bars.
MT5 Being Stock Volumes not shown correctly link
https://imgur.com/p1BkOKI
Secondly,the size of the volume bars arent corresponding to actual volumes being traded and corresponding sizes of candlesticks.Most times if a candlestick is has a long bullish or bearish body,the corresponding volume bars are also taller showing more buy or sell volume.One cannot see this from MT5.In tradingview,the volumes are correctly shown with taller volume bars matching to large candlesticks with long bodies.Please see also the link and attachment of same Boeing chart from Tradingview especially where in the last 2 minutes of trading,there were large sell volumes denoted by long bodied bearish candles and taller volume bars showing higher selling volume to the close.These last 2 volume bars are much longer than previous bars thus a trader can see the selling volume was high into the close.From MT5 volume bars of the same Boeing chart,one cannot notice this increased volume as the MT5 volume bars are almost the same size so a trader cannot asses volume trends
TradingView Boeing Stock Volume being shown correctly
https://imgur.com/Nj0j9FI
How can I resolve my challenge?Is there an mq5 script I can download that shows correct volume or is there I can correct this in MT5 using its default indicators?