Market Activity Meter MT5
- 지표
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Massimo Giorgio Dagri
I develop and evaluate automated trading solutions for MetaTrader 5, including Expert Advisors, custom indicators, scripts, and other analytical tools. My main area of interest is XAUUSD, where I explore systematic strategies based on technical analysis, price action, market structure, and - 버전: 1.2
See market activity at a glance with a free Relative Volume and Relative Range indicator for MetaTrader 5.
Market Activity Meter MT5 is a visual market activity dashboard that helps traders understand how current trading activity compares with recent historical conditions.
Using a clear semicircular gauge, the indicator measures Relative Volume (RVOL) and Relative Range, allowing you to identify periods of low, normal, high, or extreme market activity directly on your trading chart.
Designed for Forex, Gold (XAUUSD), indices, and other instruments supported by MetaTrader 5, it provides useful market context without cluttering the chart with additional trading signals.
Key Features
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Relative Volume (RVOL): Compare candle volume with the average volume of previous candles.
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Relative Range: Measure the current candle's price range relative to its recent average.
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Visual Activity Gauge: A color-coded semicircular speedometer with a dynamic needle.
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Four Activity Levels: LOW, NORMAL, HIGH, and EXTREME.
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CLOSED Mode: Analyze the latest completed candle using stable values.
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LIVE Mode: Monitor the developing candle as market activity changes.
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Automatic Volume Selection: Support for tick volume and real volume where available.
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Customizable Dashboard: Adjustable size, position, colors, thresholds, and lookback period.
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Draggable Panel: Move the dashboard to a convenient chart location.
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No Trading Automation: The indicator does not open or manage trades.
How Relative Volume Works
Relative Volume compares the volume of a selected candle with the average volume of a configurable number of preceding candles.
For example:
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0.50x: Half the recent average volume.
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1.00x: Volume equal to the recent average.
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1.50x: Volume 50% above the recent average.
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2.00x: Twice the recent average volume.
The default lookback period is 20 candles.
Higher relative volume indicates greater activity compared with the selected historical reference. It does not, by itself, indicate bullish or bearish direction.
Understanding Relative Range
Relative Range compares a candle's High-to-Low price range with the average range of previous candles.
For example, a Relative Range of 1.50x means the candle's range is 50% larger than the recent average.
Using Relative Volume and Relative Range together can help distinguish between changes in trading activity and changes in price movement.
Activity Levels
The default gauge classification is:
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LOW: Below 0.70x
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NORMAL: 0.70x to below 1.20x
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HIGH: 1.20x to below 1.80x
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EXTREME: 1.80x and above
These thresholds can be customized.
The activity levels describe relative volume intensity, not trading direction or entry signals.
CLOSED and LIVE Modes
CLOSED Mode displays readings from the latest completed candle. This is the default mode and is useful for reviewing confirmed market activity.
LIVE Mode displays readings from the candle currently forming. Values may change until the candle closes.
Because a LIVE candle has not completed, its partial volume and range readings should not be interpreted as directly equivalent to completed-candle measurements.
Markets and Timeframes
Market Activity Meter MT5 can be applied to different MetaTrader 5 symbols and chart timeframes, including:
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Forex currency pairs such as EURUSD and GBPUSD
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Gold (XAUUSD)
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Stock indices
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Other supported trading instruments
Volume availability and characteristics depend on the broker and instrument. On many Forex symbols, volume represents tick activity rather than centralized traded volume.
Installation
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Install Market Activity Meter MT5 through MQL5 Market.
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Open a chart in MetaTrader 5.
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Attach the indicator from the Navigator.
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Select the preferred dashboard size and position.
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Adjust the lookback period and activity thresholds if needed.
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Use CLOSED or LIVE mode according to your analysis.
The indicator operates directly on the chart and does not require a trading robot.
Who Is It For?
Market Activity Meter MT5 can be useful for discretionary traders, price action traders, volume analysis enthusiasts, and anyone who wants a simple visual reference for market participation and candle-range expansion.
It can complement an existing trading strategy by providing additional market context.
Important Information
Market Activity Meter MT5 is an analytical indicator, not a buy or sell signal generator.
High activity does not guarantee a breakout, continuation, reversal, or profitable trading opportunity.
Always combine its readings with your own market analysis and risk management.
Market Activity Meter MT5 — a clear visual reference for relative volume and price activity.
