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Indicators

Volume MA with candle color tracking - indicator for MetaTrader 5

Robert Rice
Published by:
Conor Mcnamara
Views:
1028
Rating:
(1)
Published:
2025.04.22 16:05
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

It's a classic indicator which plots a moving average on volume (tick volume) instead of price. The histogram bars that describe the volume are coloured based on the price bars.

It's an MQL4 conversion and the original old code can be found here: https://www.mql5.com/en/code/25462

Tick volume breaking above the moving average could indicate increased participation - signalling strong trends or volatile movements.

Tick volume staying below the moving average might suggest lower liquidity, meaning the market is quieter or consolidating.


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