Tick Chart Constant Volume Generator
- Utilities
- Version: 1.1
- Updated: 31 March 2026
- Activations: 5
The Tick Chart Toolset is a pair of tightly coupled MQL5 files that generate and control professional Constant Volume charts inside MetaTrader 5 as custom symbols. Unlike time-based charts, each bar closes only when a target volume threshold is reached, giving you a noise-filtered, activity-proportional view of the market.
Free "Tick Chart Monitor Indicator" to control the generator EA: https://www.mql5.com/en/market/product/17104
| Component | Type | Role |
| Tick_Chart_Generator_AI_MT5.mq5 | Expert Advisor (EA) | Generates the custom symbol and its bars. Runs on the source (time-based) chart. |
| Tick_Chart_Monitor_AI_MT5.mq5 | Indicator | Control panel UI. Runs on the generated tick chart. Sends commands to the EA via GlobalVariables. |
| Note: Both files must be compiled and installed in MetaTrader 5. The EA runs on the source chart; the Monitor runs on the generated tick chart. |
2. Tick Chart Generator EA
2.1 What It Does
The EA reads the broker’s raw tick feed (or M1 bar history as a fallback) for the source symbol and reconstructs it into a custom symbol in MetaTrader 5. Each bar of that symbol contains exactly the configured volume of ticks or real-volume units, making every bar represent equal market activity.
2. Trading Styles (Auto Volume Targets)
When TicksInBar is set to 0 (auto mode), the EA analyses the last 30 days of daily volume and derives a bars-per-day target for each style. The volume per bar is calculated as: avg_daily_volume ÷ target_bars_per_day.
| Style | Bars / Day | Timeframe Equivalent | Best Used For |
| Scalper | ~288 | ~5-minute | High-frequency scalping, fast noise-filtered action |
| Day | ~24 | ~1-hour | Standard intraday trading and trend following |
| Swing | ~1 | ~Daily | Swing and position trading, wide-angle perspective |
| Uniform | ~6 | ~4-hour | Balanced medium-term view |
| Custom | manual | (user-set) | Set TicksInBar > 0 to use a precise fixed volume |
3. Tick Chart Monitor
3.1 What It Does
The Monitor is an indicator that runs directly on the generated tick chart. It provides a graphical control panel that lets you change the EA’s style, volume, start date, or trigger a full rebuild — without touching the EA’s input settings or restarting it. All communication uses MT5 GlobalVariables.
4. Benefits of Constant Volume Charts
4.1 Why Not Time-Based Charts?
Standard time-based charts allocate equal width to every bar regardless of what the market was actually doing. During low-liquidity periods (overnight, pre-news) you get many noisy bars with negligible price movement. During high-activity periods the same bar width may cover an enormous amount of traded volume. This creates inconsistency in how price action appears.
4.2 What Constant Volume Charts Give You
• Every bar represents an equal amount of market activity — wide bars always mean high engagement.
• Low-volume periods produce fewer, more meaningful bars, reducing chart noise.
• Support and resistance levels align with genuine liquidity clusters, not arbitrary clock boundaries.
• Trend structure is cleaner: bars accelerate during momentum moves and slow during consolidation, making both more visible.
• Volume-weighted perspective without needing a separate volume indicator — bar density tells the story.
• Works across all instruments: Forex pairs, indices, commodities, futures, crypto.
4.3 Practical Advantages of This Toolset
• No restart needed to change style — click a button in the Monitor and the EA rebuilds in the background.
• Multiple EA instances run simultaneously across pairs (e.g. GBPAUD, AUDJPY, GBPCAD) with fully independent Monitors.
• History depth is limited only by the broker’s tick archive — no artificial cap imposed by the toolset.
• Transient broker data errors (Windows file locks, brief reconnects) are retried automatically and never wipe good history.
• Custom symbol prefix support allows multiple chart variants per instrument in the same MT5 instance.
