horizontal volume
Info
The horizontal volume is a Indicator for MetaTrader 4 that the script displays horizontal volumes. horizontal volumes are useful for identifying resistance-support lines, among other interesting applications.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use horizontal volume
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the script displays horizontal volumes.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: institutional kyle's lambda market impact engine: revolutionizing volume analysis - another powerful indicator for MetaTrader 4 traders.
the script displays horizontal volumes.Also recommended: quasi-volume bars indicator - similar indicator with strong performance on MetaTrader 4.
horizontal volumes are useful for identifying resistance-support lines, among other interesting applications.
the primary focus was to make this tool user-friendly.
the functions implemented in this script could not be achieved with indicators due to metatrader's limitations. the goal was to replicate the visualization seen in futures, where volume values change dynamically as the chart is moved.
a control panel is located in the bottom-right corner for easy mode switching:
1. the central number represents the width of the rectangles (horizontal volumes) in pixels. this value can be adjusted by selecting the
+
or
-
signs and moving them across the screen.
2. the
close
or
h - l
mode can be toggled by shifting the word. this switches between two modes:
-
close
mode: volumes are tied to the close price of each candle.
-
h - l
(high - low) mode: volumes are tied to the high and low prices of each candle. half of the volume is assigned to the high point, and the other half to the low point. (this may not be the optimal approach, and suggestions for improvements are welcome.)
3. to exit the script, move or delete the
exit
word.
-----------------------------
- automatic switching to 5-digit (3-digit) mode is implemented, with volume granularity set to 10.
the only inconvenience is the script's inability to handle time frame changes gracefully, requiring a reload (a common issue with scripts).
it is recommended to use the script on a single time frame, utilizing chart compression, expansion, and horizontal scrolling for analysis.
You may also like: laguerre volume indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#define razm_mas 1000
int point_bars;
int mas_vol[razm_mas];
int pred_begin_bar,begin_bar, end_bar, max_kol_line,nom_line;
double pred_pr_min,pr_min, pr_max, pr1,pr2;
int ed_ampl,max_vol, vol2;
string name;
int pred_x;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.