Discussing the article: "Building a Volume Bubble Indicator in MQL5 Using Standard Deviation"
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Check out the new article: Building a Volume Bubble Indicator in MQL5 Using Standard Deviation.
The article demonstrates how to build a Volume Bubble Indicator in MQL5 that visualizes market activity using statistical normalization. It covers how to work with tick and real volume, compute the mean and standard deviation over a rolling window, and normalize volume values to identify relative strength. You will implement chart objects to display bubbles with dynamic size and color, providing a clear representation of volume intensity directly on the chart.
Before writing a single line of code, it’s important to understand the full picture of what we are building and how each piece connects to the next. This chapter breaks the indicator down into clear stages so that by the time we get to the actual implementation, nothing comes as a surprise.
What We Are Building
The Volume Bubble Indicator is a chart overlay that sits directly on your candlestick chart. Instead of a histogram on a separate window, it places a circle, which we can name a bubble, directly above every candle. The size of the bubble tells you how significant that candle's volume is compared to recent activity. The color tells you whether volume is growing or shrinking. And at the most extreme spikes, a formatted label appears showing the precise volume variety in a readable layout.
The finished indicator will behave like this on your chart. Bars with small volume get small bubbles. Bars with slightly elevated volume get medium bubbles. Candles with very high volume get large bubbles, and these large bubbles will be paired with a text label displaying the actual quantity. A green bubble means volume on that candle is higher than the candle before it. Orange means volume is lower than the candle before it. Gray appears on the very first candle of the window where there is nothing to compare against.
Author: ALGOYIN LTD