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Volume bar chart generator
A utility for creating volume bar charts with real-time updates. This is an MT4 "offline" chart equivalent, which is very simple to use. You can attach any MT5 compatible indicator or template to the tick chart and perform your technical analysis using various objects like trend lines.
A volume-based chart mainly designed for use with exchange-traded instruments (futures, stocks, etc.). Real volume data is needed for the volume chart to display. If no "real volume" data is present, the generator will fallback to a "tick volume" bar chart compatible used with other instruments like Forex pairs.
The utility can also function as a "Tick chart" generator via the "Operating mode" setting.
The generator uses tick data to plot the historical tick chart for a particular setting and live ticks for plotting live charts. This method of calculation gives highly accurate charts as no approximation is used.
The settings include
- Bar size - Desired amount of (volume or ticks) needed for a new bar to form. It depends on the operating mode selected.
- Operating mode (Volume chart/ Tick chart)
- Show history for a number of days (0 to...)
- Synchronize first bar's open on a new day (yes/no) - Synchronize the first candle's open price with the open price of the daily candle.
- Override default custom chart name with (chart name)
- Apply a template to custom chart - you can enter a template name that should be automatically applied to the custom chart
Free countdown timer for the chart can be downloaded from https://www.mql5.com/en/market/product/60156
Added option for building a renko chart for backtesting purposes only.