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Volume bar chart

A volume-based chart designed for use with exchange-traded instruments only(futures, stocks, etc.). Real volume data is needed for the chart to display. If no real volume data is present the chart will fallback to a "tick volume" bar chart.

Tick volume mode can also be set using the indicator's settings.

Real trade volume is used to calculate both live and historical bars. A new bar is formed only after a user-defined number of contracts are traded, aka volume!

For example, on a 4000 volume chart, each completed bar will always encompass a total traded volume of 4000 contracts and a new bar will form once another 4000 contracts are traded.

Advantages of trading using volume bars

The majority of traders consider volume to be the foundation of technical analysis and the driving force behind price action. Volume bars only print when substantial volume flows into the market, thus volume bars can significantly reduce chop or a sideways market structure. The idea is simple - when there is very little or no volume in the market, a new bar will not print.

Volume bar chart's settings include

  • Bar size
  • Operating mode (Volume chart / Tick chart)
  • Show history for a number of days (input the desired number of days (plus the current day) for the amount of history to process).
  • Synchronize the first bar's open on a new day (true/false).
  • Trading session time (HH:mm-HH:mm) - broker's server time is used. Input in the 24H format
  • Show pivot levels - Show Monthly, Weekly and Daily pivot levels plus Daily R1, R2, R3 & S1, S2, S3
    (calculated using Classic or Fibonacci method) as well as previous day's High, Low & Close levels with color definitions.
  • Pivot Point calculation method ( (H+L+C)/3 or (O+H+L+C)/4 ).
  • Pivot & support/resistance color definitions
  • Display tick chart info and tick countdown to a new bar (true/false)
  • Alert condition (None / New bar / Reversal bar / MA1 & MA2 crossover / {plus variations})
  • Alert notification type (None /Show in alert box / Play sound / Send push notification / {plus variations})
  • Show MA (Yes/No) - 4 moving averages are available for use.
  • MA draw as (Line/Dots)
  • MA period
  • MA method (Simple / Exponetial / Smoothed / Linear-weighted / Volume-weighted / Linear regression)
  • MA apply to
  • MA shift.
  • MA show price label (Yes/No)
  • Show Channel (None, Donchian Channel, Bollinger Bands, Super Trend, Keltner Channel).
  • Channel period.
  • Channel ATR period (used for Keltner Channel only)
  • Channel apply to.
  • Channel multiplier.
  • Channel bands deviations (used for Bullinger Bands only).
  • Channel bands price labels (Yes/No)
  • Channel mid-price label (Yes/No)
  • Indicator used in EA via iCustom() (true/false) - Set this to true only when calling the indicator from an EA, another indicator or Script.
  • Use padding Top/Bottom (0.0 - 1.0) - used to set the margins above and below the visible high & low of the visible tick chart.
  • Show current bar's close projections (true/false) + bullish bar projection color and bearish bar projection color.
  • Use sound file for bullish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Use sound file for bearish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Display as a bar chart (true/false).
  • Shift objects with the chart (true/false)
The indicator offers a custom data window for inspecting each bar's OLHC prices as well as the bar's open time.
It is displayed by left-clicking on the selected candle while holding down the Ctrl key on your keyboard.

The chart has an autoscale feature which can be toggled ON/OFF using Ctrl+Q

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eliseexige 2020.09.23 16:21 

after multiple attempts during live markets, this is just like the rest of Artur's products. It will freeze, it will refresh the data and screw up custom indicators, and it will cost you because of it. I'd give this a 0 or negative star rating if it were possible. AVOID if you are a serious trader and need stability in fast markets, because you won't get it here.

Version 1.10 2020.09.24
Added alerts for bearish or bullish only reversals
Fixed compatibility issues with the latest MT5 builds
Version 1.9 2020.07.07
Fixed LWMA indicator bug
Removed "H1" timeframe restriction.
Version 1.8 2020.06.16
Recompiled for better compatibility with the latest MT5 builds
Version 1.7 2020.03.26
Fixed alert handler
Version 1.6 2020.03.25
Memory usage optimization
Version 1.5 2020.03.21
Added chart type label
Version 1.4 2020.03.20
Added "Tick chart" mode.
Version 1.3 2020.03.18
Code maintenance release
Version 1.2 2020.03.10
Minor bug fixes and code cleanup
Version 1.1 2020.03.08
Added fallback to tick volume chart if no real volume information is present for a symbol.