Ticks_Volume_Indicator – indicator MetaTrader 5

Real author:

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 “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.

Ticks_Volume_Indicator