What is VolumeCandlesticks V1.08 (MT5)?


VolumeCandlesticks V1.08 is a lightweight yet powerful MT5 indicator that merges price action and tick-volume into a single, readable chart view. Instead of checking a separate volume pane, the indicator encodes volume information directly into your candles—via color, body thickness, or subtle fills—so you can instantly see which price moves were actually backed by participation and which were just “air pockets.”


Why it matters: every chart has hundreds of candles, but not all candles are equal. A breakout with thin volume is fragile; a retest swallowed by heavy volume often sticks. By attaching volume data to every candle, this tool makes your chart more truthful—ideal for day traders, scalpers, and swing traders who need quick, confident reads without hopping across windows.


How it works 



  • Tick Volume Mapping: The indicator reads each bar’s tick volume (i.e., the number of price changes within the bar) and compares it to recent history.

  • Visual Encoding: When volume exceeds a dynamic threshold, candles show a “high-volume” state (e.g., deeper color or thicker body); when volume is average or low, candles display a lighter, more neutral state.

  • Context Over Time: Because the threshold adapts to recent bars, you’re always seeing volume “in context,” not just an arbitrary number.

  • Signal Clarity: The most interesting candles—high volume at key levels, or volume spikes on breakout bars—stand out at a glance.


Result: you quickly separate real moves from noise and confirm your setups with participation.



Best-fit market types, pairs & time frames



  • Pairs: Designed for high-liquidity majors where tick volume better reflects participation: EURUSD, GBPUSD, USDJPY, and XAUUSD (Gold). It also works well on AUDUSD and US30/DE40 CFDs if your broker streams consistent ticks.

  • Time Frames:



  1. Scalping & intraday: M5–M15 (clean read of volume thrusts into micro-levels)

  2. Intraday swing: M30–H1 (confirms breakouts, fakeouts, and session pushes)

  3. Swing/position: H4–D1 (spot distribution/accumulation, exhaustion, and reversals)


Pro tip: If you’re scalping London or NY sessions on M5/M15, VolumeCandlesticks excels at exposing “who’s really pushing” a move.


What traders use it for



  1. Breakout confirmation: Was that range break backed by real interest or just a spread widening blip?

  2. Fakeout filtering: Price poked the level, but volume didn’t follow—stand aside or fade it with tighter risk.

  3. Trend strength read: Consecutive higher-volume candles in the trend direction often precede extension legs.

  4. Reversal timing: A sudden volume spike into a higher-timeframe level can mark exhaustion or a true flip—watch the next candle.

  5. Session tracking: Volume cadence around opens (London/NY) reveals where the day’s “sponsorship” enters.


Key features in V1.08



  • Direct-on-candle volume visualization: No extra pane clutter.

  • Adaptive thresholds: Contextualizes “high” vs “low” volume relative to recent bars.

  • Configurable color logic: Pick clear, high-contrast colors that fit your theme.

  • Optional body-thickness mode: Make high-volume bars physically stand out.

  • Alert hooks (push, sound, popup): Get notified on new high-volume bars or threshold crosses.

  • Session filters: Focus on relevant hours (e.g., London/NY overlap).

  • Performance tuning in 1.08: More efficient rendering for multi-timeframe charting.

  • Works with any strategy: Trend continuation, range breakouts, or mean-reversion confirmation.

  • MT5-native: Smooth on most modern builds; no DLLs or external feeds needed.

  • Clean parameter set: Easy to drop in and trade without a manual PhD.


Example trade ideas 



  • Break-and-go: When price breaks a well-tested range high and the breakout candle prints high volume, consider a continuation trade in the breakout direction after a small pullback. If the pullback arrives on lower volume, even better—that’s reluctance to sell.

  • Fade the fake: Price spikes above resistance on low/average volume and immediately snaps back. If the next candle confirms rejection (wick + direction flip), a short toward the range mid with tight risk can make sense.

  • Trend add-on: In an H1 uptrend with higher highs and higher lows, look for M15 high-volume thrusts on pullback ends to time add-ons.


Practical setup guidance



  1. Attach to chart: Load VolumeCandlesticks V1.08 on your working time frame (e.g., M15 or H1).

  2. Colors: Choose a bold high-volume color (e.g., darker green/red) and a softer base color for normal bars. You want immediate visual separation.

  3. Sensitivity: Start with default thresholds. If your pair is quieter (e.g., AUD pairs during Asia), nudge sensitivity so that only the most meaningful bars light up.

  4. Session filter: If you mostly trade London/NY, limit the display to those hours to reduce “false importance” from thin times.

  5. Multi-TF context: Keep H1/H4 open to see whether your M15 high-volume bar is printing into a higher-timeframe level (support/resistance, order block, previous day high/low).

  6. Risk rules: Even the best volume read needs structure—set stop loss beyond structure, not just “x” pips.

  7. Journal your patterns: Save screenshots of high-volume breaks that worked vs those that failed. Within a week you’ll spot your highest-probability combinations.



Why traders like it



  • Faster decisions: You’re not eyeballing a separate histogram; it’s all on the candle.

  • Less ambiguity: Color/thickness amplifies the bars that matter, de-emphasizes the fluff.

  • Great with price action: Combine with S/R, supply-demand, or VWAP; VolumeCandlesticks acts like a “truth serum” for every setup.

  • Broker-agnostic: Uses MT5 tick volume—no paid data feed required.


Known limitations 



  • Tick volume ≠ exchange volume. In spot FX/CFDs there’s no centralized tape. Still, tick volume strongly correlates with actual activity on liquid pairs. Focus on majors and active sessions.

  • Quiet hours distort reads. Thin Asia session on EURUSD? Expect fewer high-volume prints. Use the session filter or adapt sensitivity.

  • One tool, not a holy grail. Always pair with structure, risk management, and clear trade plans.


Quick answers



  • Pairs? EURUSD, GBPUSD, USDJPY, XAUUSD recommended; also fine on other liquid majors.

  • Time frames? Any. Best: M5–M15 (scalping), H1–H4 (swing).

  • Works on indices/commodities? Yes, if your broker streams consistent ticks; test first on demo.

  • Is it resource heavy? V1.08 is optimized; multiple charts are fine on a mid-range machine.


Final thoughts


VolumeCandlesticks Indicator V1.08 is for traders who want instant participation context—the difference between a candle that “looks good” and one that’s actually sponsored. On majors and gold, during London and New York, the read is especially crisp. If you already trade price action, this will feel like turning on the lights in a dim room. Start with default settings, keep your rules tight, and let the candles tell you which moves deserve your capital.


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