Ticks Volume Indicator
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Ticks Volume Indicator
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.
Description & Settings
Profitrader
An indicator that uses tick volume for calculations.
In the futures markets data on trade volumes a reported with a one day delay. To compensate for this, many analysts use the tick volume indicator (tick volume™): it allows you to track volume changes during the trading day.
Tick volume indicates the number of deals concluded over a certain intraday period, but does not show the number of contracts per deal. So it can for example be 50 deals per hour. But how many contracts have been concluded for each deal is not clear from this figure. It could be, for example, 50 one-lot orders or 50 hundred-lot orders. From this point of view, the tick does not reflect the true volume. However, it is a valuable indicator because only it allows you to measure the volume with less delay, although at the expense of accuracy.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article .
This indicator was first implemented in MQL4 and published in the on 03.02.2008.
Ticks_Volume_Indicator
