AI Color Gradient Volume
- Indicators
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Xin You Lin
Xin You Lin | Quantitative Trading System Engineer · Economist · Full Stack Developer of MQL4/MQL5 - Version: 1.12
- Activations: 5
This indicator draws the volume bars as a colour gradient instead of a single flat colour, so that strong and weak volume can be told apart at a glance.
Every bar is compared with the average volume over a lookback period you set. The further a bar stands above that average, the deeper its colour; bars near or below the average are drawn in a pale shade. The hue follows the candle direction, one colour for volume on rising candles and another for volume on falling candles, so the balance between the two sides is visible bar by bar.
MT4 note: MT4 does not provide exchange volume. This indicator reads tick volume, which is the number of price updates inside a bar. Tick volume is broker dependent, values are not comparable between brokers, and symbols without volume data show nothing.
How to read it
- Pale shade: volume close to or below average, low participation
- Deep shade: volume well above average, strong participation
- Hue: shows whether the volume came from rising or falling candles
How to use it
- Trend confirmation: rising price with deepening bars suggests the move is supported; rising price with fading bars suggests weak participation behind the move
- Divergence: price at a new high while the bars fade, or a new low while the bars deepen, warns that the move is losing support
- Breakout filter: a breakout on deep bars is more likely to continue than one on pale bars
- Spike alert: optional notification when a bar exceeds the average by a multiple you set
Inputs
- AveragePeriod - lookback used for the volume average that the gradient is measured against
- GradientSteps - number of colour levels between the palest and the deepest shade
- HighVolumeMultiplier - multiple of the average that triggers the spike alert
- ShowSpikeAlert / AlertPopup / AlertPush / AlertEmail - notification settings
- DrawMode - histogram or candles
- MaxBars - number of bars calculated, limits resource use on long histories
(Replace the names above with the actual input names of your indicator.)
Notes
- Only tick volume exists in MT4; it is broker dependent and is not the same as exchange volume.
- The indicator does not generate buy or sell signals on its own. It is meant to be combined with your own entry method.
- Bar colours are fixed once the bar closes; past bars are not redrawn. (Confirm this matches your indicator and correct it if it does not.)
- Works on any symbol that provides volume data and on any timeframe.
- Test on a demo account before using it in live trading.
- Questions are welcome in the comments or by private message on MQL5.
