VolumeLeaders Levels
- Indicators
-
David Iommi
I am specialized in applying deep learning and statistical models for signal and imaging processing.
As a personal passion, I like to develop code for trading signals and strategies for stock market data and time series.
My Approach: - Version: 1.0
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VL LEVELS INDICATOR - USER GUIDE
VolumeLeaders Institutional Trade Levels for MetaTrader 5
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WHAT IS THIS INDICATOR?
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This indicator displays VolumeLeaders institutional dark pools trade levels on your MT5 charts. These levels represent price points where significant institutional
trading activity has occurred, ranked by dollar volume. They represent level of support and resistance.
DISCLAIMER:
This is an Unofficial product with no tie with the www.volumeleaders.com platform. I have a personal subscription to www.volumeleaders.com, and best usage of this indicator can only be achieved if you are subscribed too to the platform.
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QUICK START GUIDE
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STEP 1: FIND YOUR MT5 DATA FOLDER
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The indicator reads level files from a special "Files" folder in MetaTrader 5.
To find this folder:
1. Open MetaTrader 5
2. Click: File -> Open Data Folder
3. Navigate to: MQL5 -> Files
4. Create a new folder called: VL_Levels
Your path should look like:
[MT5 Data Folder]/MQL5/Files/VL_Levels/
Common locations:
Windows: C:\Users\[YourName]\AppData\Roaming\MetaQuotes\Terminal\[ID]\MQL5\Files\VL_Levels\
Mac/Wine: ~/.mt5/drive_c/Program Files/MetaTrader 5/MQL5/Files/VL_Levels/
STEP 2: DOWNLOAD LEVELS FROM VOLUMELEADERS
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Go to VolumeLeaders.com and download the level data for your symbol.
VolumeLeaders offers TWO export formats:
A) ThinkScript TXT (RECOMMENDED - easiest!)
- Download the .txt file directly
- No conversion needed
- File contains ThinkScript code that our indicator can parse
B) Excel XLSX
- Download the .xlsx file
- You must convert it to CSV (see instructions below)
STEP 3: PLACE THE FILE IN THE VL_LEVELS FOLDER
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Name the file to match your MT5 symbol EXACTLY.
Examples:
- For Apple stock: AAPL.txt or AAPL.csv
- For S&P 500 ETF: SPY.txt or SPY.csv
- For Energy ETF: XLE.txt or XLE.csv
IMPORTANT: The filename must match your broker's symbol name!
- Check your MT5 chart title for the exact symbol
- Some brokers add suffixes (e.g., AAPL.US, AAPL.NAS)
- If your broker uses "AAPL.US", name the file "AAPL.US.txt"
STEP 4: ADD THE INDICATOR TO YOUR CHART
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1. Open a chart for the symbol you downloaded levels for
2. Go to: Insert -> Indicators -> Custom -> Ind_VL_Levels
3. Click OK to apply with default settings
4. The levels will appear as horizontal lines on your chart!
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FILE FORMAT DETAILS
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OPTION A: THINKSCRIPT TXT FORMAT (Recommended)
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This is the easiest option - just download and use directly!
The .txt file from VolumeLeaders contains ThinkScript code like this:
def show_AAPL = GetSymbol() == "AAPL";
plot line_AAPL_0 = if show_AAPL then 280.0 else Double.NaN;
AddChartBubble(..., 280.0, "$1.24B", Color.WHITE, yes);
Our indicator automatically extracts:
- Price levels from "plot" lines
- Dollar volumes from "AddChartBubble" lines
- Rank from the line number (0 = Rank 1, 1 = Rank 2, etc.)
OPTION B: CSV FORMAT (Requires Conversion)
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If you downloaded the .xlsx file, convert it to CSV:
Excel:
File -> Save As -> Choose "CSV (Comma delimited) (*.csv)"
Google Sheets:
File -> Download -> Comma-separated values (.csv)
LibreOffice Calc:
File -> Save As -> Choose "Text CSV (.csv)"
Expected CSV format:
VolumeLeaders.com,,,,,,,
Price,$$,Shares,Trades,RS,PCT,Level Rank,Level Date Range
280.0,1240000000,4500000,1200,5.2,100,1,2023-01-01 - 2024-01-01
275.0,892450000,3200000,980,4.1,95,2,2023-02-15 - 2024-01-01
...
Required columns: "Price" and "Level Rank" (or just "Rank")
Optional columns: "$$" (dollars), "Shares", "Trades", "Level Date Range"
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INDICATOR SETTINGS
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DISPLAY SETTINGS
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Level Line Color - Color for single price levels (default: gold/amber)
Zone Line Color - Color for clustered zones
Level Line Width - Thickness of level lines (1-5)
Zone Line Width - Thickness of zone lines (1-5)
Line Style - Solid, Dash, Dot, etc.
LABEL SETTINGS
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Show Labels - Display "VL #1 $1.24B" text (default: ON)
Show Dates - Include date range in label
Show Volume - Include share volume in label
FILE SETTINGS
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Symbol Override - Use a different symbol than the chart
(useful if your broker uses different naming)
Folder Path - Subfolder in MQL5/Files/ (default: VL_Levels)
Auto-Refresh - Automatically reload when file changes (default: ON)
Refresh Interval - How often to check for file updates (seconds)
BEHAVIOR
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Verbose Logs - Enable detailed logging for troubleshooting
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TROUBLESHOOTING
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LEVELS NOT APPEARING?
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1. Check the Experts tab (View -> Toolbox -> Experts tab) for error messages
2. Verify your file is in the correct location:
- File -> Open Data Folder -> MQL5 -> Files -> VL_Levels -> [SYMBOL].txt
3. Make sure the filename matches the chart symbol EXACTLY
- Check your chart title bar for the exact symbol name
- Symbol names are case-sensitive on some systems
4. Try removing and re-adding the indicator to the chart
5. Check if the file format is correct:
- TXT file should contain "plot line_" and "AddChartBubble"
- CSV file should have "Price" column in the header
SYMBOL NAME MISMATCH?
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Different brokers use different symbol names:
- Standard: AAPL, SPY, XLE
- With suffix: AAPL.US, SPY.NYSE, XLE.ARCA
- CFD style: AAPLm, #AAPL
Solutions:
1. Rename your file to match broker's symbol exactly
2. OR use the "Symbol Override" setting in the indicator
FILE NOT FOUND ERROR?
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The indicator looks in: MQL5/Files/VL_Levels/[SYMBOL].txt (or .csv)
To verify the path:
1. In MT5: File -> Open Data Folder
2. Navigate to MQL5 -> Files -> VL_Levels
3. Confirm your file is there with the correct name
LEVELS SHOWING AT WRONG PRICES?
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This can happen if:
1. The file is for a different symbol
2. The symbol had a stock split (prices need adjustment)
3. Your broker uses different price formatting
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TIPS FOR BEST RESULTS
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1. DOWNLOAD FRESH DATA REGULARLY
VolumeLeaders updates their data - download new files periodically
2. USE TXT FORMAT WHEN POSSIBLE
The ThinkScript .txt format requires no conversion
3. ENABLE AUTO-REFRESH
Keep auto-refresh ON to see updates when you replace files
4. CREATE FILES FOR MULTIPLE SYMBOLS
You can have files for many symbols - the indicator will automatically
load the correct one based on which chart you're viewing
5. BACKUP YOUR FILES
Keep a backup of your level files outside the MT5 folder
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SUPPORT
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For VolumeLeaders data questions:
For indicator issues:
Check the Experts tab in MT5 for detailed error messages
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(c) VL MT5 Bridge - https://www.volumeleaders.com
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