Better volume student v2
- Indicators
-
Malik Muhammad Naveed
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ABOUT THE SELLER / AUTHOR (for MQL5 profile & products)
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SHORT VERSION (profile "About me" / signature) - Version: 2.0
PRODUCT NAME
MN Volume Body Break
SHORT DESCRIPTION (one line)
Buy/sell volume candles with H4 + H1 key areas, candle-body break and retest signals, entry body, stop loss and alerts on one dashboard.
CATEGORY
Indicators
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FULL DESCRIPTION
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MN Volume Body Break paints every candle by what its volume is doing, then turns the important candles into clear trade triggers. The rule behind every signal is the same: a candle must CLOSE outside the BODY of an important candle. A wick touching the level is not a signal.
It is built for learning and teaching. Each signal on the dashboard states the trigger, the entry body and the stop loss, so a student can see why the signal appeared.
HOW IT WORKS
The indicator splits the tick volume of each candle into an estimated buying part and selling part, using the candle's open, high, low and close. It compares each candle with the last 20 candles and paints it:
- Red: climax high. The strongest buying volume in the window.
- White: climax low. The strongest selling volume in the window.
- Orange: churn at a high. Very high volume with little price movement.
- Green: churn at a low. Very high volume with little price movement.
- Magenta: climax and churn on the same candle.
- Yellow: low volume. The lowest volume in the window.
- Blue: a normal candle.
SIGNALS
1. H4 + H1 key area
When the latest churn candles on H4 and H1 agree, the body of the H1 churn candle becomes the key area. The area is only a trigger level. A sell triggers when an H1 candle closes below the body. If a candle closes above it instead, the dashboard shows STOP SELL - BUY NOW. The box on the chart is grey while waiting, red after a sell trigger and green after a buy trigger.
2. Entry body and stop loss
The candle that closes outside the area is the signal candle. Its body is the entry zone and the stop loss is placed beyond that candle. If a later candle closes back through the signal candle's body, the dashboard shows SL TAKEN so the trade can be closed early.
3. Churn break and retest on the chart timeframe
The latest churn candle on the chart you have open is also watched. A close below its body is a sell and a close above is a buy. If price breaks one way and then closes back through the other side of the body, the signal flips and is marked RETEST. White climax-low candles are never used as the break candle. Each signal is tagged as agreeing with or going against the H4/H1 bias.
4. Climax high caution sell (H1 and H4)
The indicator waits for a close below the body of the climax high candle, then shows a caution sell with the stop loss above the climax wick.
5. Low volume small sell (H1 and H4)
A close below the low of the low-volume candle shows a small sell, with the stop loss above the highest high since that candle.
DASHBOARD
- H4 and H1 bias
- Key area with the close needed to trigger
- Entry state, entry body, stop loss and early-exit level
- Chart-timeframe churn signal
- Climax and low-volume rows
- Feed quality: average tick volume and bars available
- Latest signal with its time, filled in as soon as any timeframe is opened
ALERTS
Popup, sound and push notification. Each alert fires once, on the candle close.
OTHER FEATURES
- Automatic support and resistance levels from churn and low-volume candles, with break and retest tracking
- Spike filter that ignores bad-tick candles
- Dashboard refresh throttle for fast feeds
MAIN INPUTS
- LookBack (20): candles used to compare volume
- SwingLen (8): candles used to decide a high or a low
- ScanBack (60): how far back to look for the latest churn, climax and low-volume candle
- EntryTF (H1): timeframe whose candle close triggers the key area
- ShowDashboard, DrawZone, DrawLevels: what is drawn on the chart
- ConfirmAlerts, PlaySoundAlert, PushNotify: alert types
- SpikeFilter, SpikeMult: bad-tick protection
- PanelX, PanelY, PanelWidth, FontSize, FontName: dashboard layout
HOW TO USE
1. Attach the indicator to an M15 or M5 chart.
2. Wait for the dashboard to show a trigger. Do not act on a wick.
3. Use the entry body and stop loss shown for that signal.
4. Use a reduced lot size for signals marked CAUTION or SMALL, and for signals marked as going against the H4/H1 bias.
5. If the dashboard shows SL TAKEN, the trade idea is over.
NOTES
- Forex and CFD brokers provide tick volume, not real traded volume. Results depend on the broker's feed; the FEED row helps compare brokers.
- Signals are calculated on closed candles. When a newer churn, climax or low-volume candle forms, the dashboard moves on to that candle.
- This indicator does not open or manage trades.
- It is a training and analysis tool. It does not guarantee profit. Trading involves risk of loss.
