Volume Anomaly Candle Radar
- Indicatori
- Versione: 1.0
- Attivazioni: 5
Volume Anomaly Candle Radar is a price-action and volume analysis indicator for MetaTrader 5. It compares each completed candle's trading activity and price structure with a rolling baseline of older candles, helping traders identify unusually active directional moves and high-activity candles with limited price movement.
Instead of treating every volume spike as a trading signal, the indicator separates three observable market conditions and displays them directly on the chart.
Key Features
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Directional Up (Green Arrow): Identifies candles with unusually high volume, expanded price range, a relatively strong bullish body, and a close near the high.
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Directional Down (Red Arrow): Highlights unusually active bearish candles with range expansion and a close near the low.
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High Effort, Low Result (Purple Marker): Detects elevated volume activity accompanied by limited price movement. This may be useful for studying consolidation and possible absorption-like behavior.
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Adaptive Volume Analysis: Uses a configurable historical baseline to evaluate unusual volume activity.
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Advanced Candle Filters: Customize volume thresholds, range expansion, candle body proportions, and closing positions.
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Closed-Candle Processing: The current unfinished candle is excluded from signal classification.
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Custom Alerts: Optional popup and mobile push notifications for newly completed events.
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EA Integration: Seven indicator buffers accessible through iCustom and CopyBuffer.
How It Works
The indicator calculates a Volume Z Score using the average and standard deviation of previous completed candles.
It also evaluates price range expansion, candle body size, and closing position to classify market activity.
The default calculation uses 40 previous candles and a minimum Volume Z Score of 1.50. Additional filters determine whether an event qualifies as directional activity or a High Effort, Low Result observation.
All analytical thresholds are configurable.
How to Use
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Install the indicator in MetaTrader 5 and attach it to your preferred chart and timeframe.
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Start with the default parameters and observe the three types of markers.
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Increase Minimum Volume Z for more selective activity detection, or decrease it to display more observations.
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Adjust Minimum Expansion Ratio, Minimum Body Fraction, and Close Location to refine directional events.
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Adjust Maximum Tight Range Ratio and Maximum Small Body to customize High Effort, Low Result detection.
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Select Tick Volume or Real Volume according to the data available from your broker.
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Enable popup or push alerts if required. Configure MT5 terminal notifications before using mobile push alerts.
Volume Data and Important Notes
Tick Volume measures broker-reported tick activity and does not represent actual traded contract volume. Real Volume can be selected where the broker provides usable data.
The indicator does not measure actual buyer/seller delta, order-book absorption, or institutional positions.
If selected volume data is insufficient or unsuitable for meaningful statistical comparison, the affected candle is left unclassified.
Volume Anomaly Candle Radar is an analytical tool, not an automated trading system. It does not open trades, manage positions, or guarantee future market movements.
Use the observations alongside your own price-action analysis, trading strategy, and risk-management process.
