AI Volume Spike Scanner

AI Volume Spike Scanner automatically flags candles that combine an unusually large range with unusually high tick volume - the classic footprint of big-player activity - and marks them directly on the chart with a clear directional arrow, so you never miss a significant move again.

The indicator compares each new bar's range and volume against the recent average. When both exceed your chosen thresholds at the same time, the bar is marked as a bullish or bearish volume spike, giving you an objective, repeatable way to spot high-conviction candles.

Key features:

• Automatic detection of high-volume, high-range candles (volume spikes)
• Independent thresholds for candle size and volume, both as a percentage above average
• Clear bullish/bearish arrow markers placed directly on the spike candle
• Optional alert the moment a new spike is detected
• Works on any symbol and timeframe - Forex, metals, indices, crypto
• Lightweight, non-repainting logic once a bar has closed
• No DLLs, no external dependencies - installs in seconds

Input parameters:

• Lookback Bars - number of prior bars used to compute average size and volume (default 20)
• Candle Size Percent - minimum percentage above average range required to qualify (default 50.0)
• Volume Percent - minimum percentage above average tick volume required to qualify (default 80.0)
• Alert On Spike - enable a pop-up alert the moment a new spike candle forms (default false)

Ideal for order-flow and volume-based traders who want to know exactly when unusual participation enters the market, without watching the volume histogram bar by bar.

Need this tool customized for your own strategy, or an advanced version with extra filters and alerts? Send me a private message on MQL5 and I will reply with an estimate.