bar or volume colored candlesticks
Info
The bar or volume colored candlesticks is a Indicator for MetaTrader 5 that volume colored candlestick with bollinger bands as the standard deviationchangelogv1. 02b: hotfix for static int chartbars, where it would be forever the first call value of bars(symbol(), period_current) and would not update thereafter (guarantees that invalid candles are not visible)v1.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use bar or volume colored candlesticks
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
volume colored candlestick with bollinger bands as the standard deviationchangelogv1.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Volume Strength Compass by Bhanu Code Lab - similar indicator with strong performance on MetaTrader 5.
volume colored candlestick with bollinger bands as the standard deviationchangelog
v1.02b: hotfix for static int chartbars, where it would be forever the first call value of bars(symbol(), period_current) and would not update thereafter (guarantees that invalid candles are not visible)
v1.02a:
guarantee that invalid bars don't have invalid chart data (hide uncalculable bars), also check for minimum bars
fix gradients not showing from bar 0 until iperiod
You may also like: institutional harmonic volumetric gravity center indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#ifndef VOLUMECANDLES_H
#define VOLUMECANDLES_H
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property version "1.02"
#property fpfast
#property indicator_chart_window
#property indicator_buffers 8
#property indicator_plots 1.......
⚠ 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.