VolumeCandlesticks Indicator V1.08 MT5 — See Volume inside every candle

If you’ve ever stared at a perfect-looking breakout candle… only to watch it fizzle minutes later, you know the pain. Was the move backed by real participation or just thin liquidity noise? VolumeCandlesticks Indicator V1.08 for MT5 solves that exact problem by painting volume context directly onto your candles—so you can confirm momentum, filter fake moves, and time entries with more confidence. No guesswork, no flipping between sub-windows; everything you need is right on the chart.

Overview

VolumeCandlesticks V1.08 reimagines traditional candlestick reading by blending tick volume analytics with price action—right where your decisions happen. Instead of juggling a separate volume sub-panel, you’ll read participation at a glance: candles can change color intensity/width based on relative volume, highlight climactic bars, and mark low-activity “don’t force it” zones.

Because spot Forex doesn’t have centralized real volume, MT5’s tick volume is used (number of price changes per bar). It’s a time-tested proxy that tracks participation surprisingly well across brokers. The indicator normalizes this tick volume against an adaptive baseline (e.g., a moving average of recent bars), then maps it into simple visual states—quiet, normal, high, ultra-high—so you can react quickly.

The result? You’ll trust breakouts more when a green candle comes with a volume surge; you’ll avoid chasing when price pokes a level on low activity; and you’ll spot exhaustion when a long wick prints with big volume right into supply/demand.

Key Features

  • On-candle volume mapping – Read participation directly from the candle; no sub-window needed.
  • Adaptive thresholds – Dynamic baselines (e.g., 20/50-bar volume average) that auto-adjust to your market/session.
  • Color/width intensity – Optional visual modes: stronger color or body width for higher volume.
  • Climax bar detection – Flags unusually high bars that often precede reversals/exhaustion.
  • Quiet-market flags – Dim or tag low-volume bars to avoid overtrading chop.
  • Multi-timeframe (MTF) overlay – Per-candle hint of higher-TF volume context (e.g., view H1 “strength” on an M15 chart).
  • Session awareness – Inputs for filtering/reweighting volume during Asia/London/New York.
  • Custom color schemes – Match your chart theme; choose gentle gradients or bold contrasts.
  • Alert options – Get alerts for volume spikes, breakout-with-volume, or sudden volume drops.
  • Lightweight & efficient – Minimal CPU overhead; optimized loops for smooth multi-chart use.
  • Legend & quick stats – Optional corner panel showing thresholds, averages, and last-bar status.
  • One-click presets – Ready-made profiles for scalping, day trading, and swing trading.

How It Works 

  1. Measure tick volume per candle.
  2. Normalize vs. baseline. The indicator compares current bar volume to a chosen average (e.g., 20 bars).
  3. Classify the bar. It tags the bar as quiet / normal / high / ultra-high based on percentage thresholds (which you can adjust).
  4. Render the candle. Color intensity/width updates instantly, so you see “how much muscle” is behind price.
  5. Trigger optional alerts. If a bar crosses your “high” or “ultra-high” threshold—especially at a key level—you’ll know.

Practical read:

  • Breakout confirmation: Price pushes through resistance with “high” volume → higher odds of continuation.
  • False break filter: Price pokes a level on “quiet” volume → be skeptical; wait for proper participation.
  • Exhaustion tell: Huge wick into supply/demand on ultra-high volume → possible fade or cool-off.
  • Continuation cue: Pullback on low volume in an uptrend → dip buys are safer; lack of aggressive sellers.

Recommended Pairs & Time Frames

  • Pairs / Symbols: Any MT5 symbol that provides tick data. We see excellent clarity on EURUSD, GBPUSD, USDJPY, XAUUSD (Gold), US30 (Dow), NAS100 (Nasdaq), BTCUSD.
  • Time Frames:
  1. M1–M5: For aggressive scalpers who need immediate tells (be mindful of noise).
  2. M5–M15: Intraday sweet spot—great balance of detail and clarity.
  3. H1–H4: Swing and position traders get cleaner signals with fewer whipsaws.
  4. D1: Macro context—spot phases of accumulation/distribution.

Pro tip: session matters. London and New York overlap naturally boosts volume; Asia often prints quieter bars. The indicator’s adaptive thresholds help, but your expectations should still align with the clock, coz market rhythm is real.

Installation & Configuration (MT5)

  1. Download the VolumeCandlesticks Indicator V1.08 file.
  2. In MT5, go to File → Open Data Folder → MQL5 → Indicators and paste the file.
  3. Restart MT5 or refresh the Navigator panel, then attach the indicator to any chart.
  4. Configure inputs:
  • Baseline Period: 20–50 bars (20 for intraday, 50 for swing).
  • Volume Thresholds: e.g., Quiet < 70%, High > 130%, Ultra-High > 180% (tweak per instrument).
  • MTF Overlay (optional): Try H1 overlay when trading M15.
  • Visualization Mode: Color intensity or candle width—pick what your eyes decode fastest.
  • Alerts: Enable spike + breakout-with-volume alerts at key levels.

     5. Save a template so you can load it on new charts in one click.

Trading Playbook Ideas

  • Level + Volume Break: Mark support/resistance. Only take the break when the candle prints high/ultra-high volume.
  • Retest + Low Volume: In a trend, a pullback that shows quiet volume suggests weak counterflow—look for continuation entries.
  • Wick + Volume Spike at Supply/Demand: Long upper wick with ultra-high volume into known supply often signals exhaustion.
  • Range Fakeouts: If price “escapes” a range on quiet volume, don’t chase; wait for proper participation or reversion.
  • Confluence: Combine with structure, a simple MA, or VWAP. Volume tells you how hard the market is pressing; price tells you where.

Tips & Best Practices

  • Don’t overfit thresholds. Start with defaults; adjust slowly after a week of observation.
  • Journal your reads. Note where volume confirmation helped you avoid traps—it sharpens pattern recognition.
  • Mind symbol quirks. XAUUSD prints distinct bursts around news; indices can spike at equity open; crypto runs 24/7.
  • Risk first. Volume is a filter, not a guarantee. Use a stop. Choose position size you can sleep with.
  • Tick volume ≠ exchange volume. It’s a proxy. Good enough to guide decisions, but never a license to go all-in.

Call to Action

Ready to see participation right inside every candle? Install VolumeCandlesticks Indicator V1.08 MT5 and trade with clearer conviction—whether you scalp M5 or swing H4. Set your thresholds, save your template, and go. If you need anything, we’re one message away.

 

Happy Trading