Ticks Volume Indicator 1.1
Info
The Ticks Volume Indicator 1.1 is a Indicator for MetaTrader 4 that the ticks volume indicator is a tool used to track volume changes during the trading day. In the futures markets, trade volume data is reported with a one-day delay.
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 Ticks Volume Indicator 1.1
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 Ticks Volume Indicator is a tool used to track volume changes during the trading day.
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: horizontal volume - another powerful indicator for MetaTrader 4 traders.
The Ticks Volume Indicator is a tool used to track volume changes during the trading day. In the futures markets, trade volume data is reported with a one-day delay. To compensate for this delay, many analysts use the Ticks Volume Indicator, which allows for the measurement of volume with less delay, although at the expense of accuracy.Also recommended: institutional kyle's lambda market impact engine: revolutionizing volume analysis - similar indicator with strong performance on MetaTrader 4.
The Ticks Volume Indicator shows the number of deals concluded over a certain intraday period, but does not provide information on the number of contracts per deal. For example, it may indicate 50 deals per hour, but the number of contracts concluded for each deal is not clear from this figure. Despite this limitation, the Ticks Volume Indicator is still a valuable tool because it provides a way to measure volume with less delay.
The indicator has been modified to include alerts and drawing arrows on the chart to signal possible entries. It can be used on major currencies, such as on the M5 chart with indicator levels set to levelup = 4 and leveldown = -4. It is recommended to buy or sell according to these levels, and to avoid going against the trend too much. However, many signals may be against the trend, which can be seen as corrections, and the indicator can also determine reversals, as shown in a history backtest.
For example, when working with gold (XAUUSD) on the M5 chart, the levels can be set to levelup = 40 and leveldown = -40. The levels are individual for different timeframes, and using money management and averaging can make this a good system. It is recommended to enter against the trend with caution.
Variables are available to customize the indicator.
You may also like: quasi-volume bars indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 red
extern int r=12;
extern int s=12;
extern int u=5;
extern bool alerts=false; // alert
extern bool play=false; // .......
⚠ 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.