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 “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
This indicator was first implemented in MQL4 and published in the Code Base on 03.02.2008.
MT5 Indicator – Download Instructions
Ticks Volume Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Ticks Volume Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Ticks Volume Indicator.mq5?
- Download Ticks Volume Indicator.mq5
- Copy Ticks Volume Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Ticks Volume Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Ticks Volume Indicator.mq5 is available on your Chart
How to remove Ticks Volume Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: