Free

The Tick Volume Indicator is a MetaTrader 4 tool designed to measure and display the trading volume of a currency pair. It helps traders determine the strength of price movements and decide optimal entry and exit points.

How the Tick Volume Indicator Works

The indicator draws a wave-like structure of bars on the chart.
Color Coding:
- Green and Blue bars → High trading volume (bullish pressure).
- Red and Golden bars → Low trading volume (weak price activity).
The indicator can alert traders when volume shifts from low to high, signaling potential buy or sell opportunities.

Trading with the Tick Volume Indicator

Since volume indicates the strength behind a price movement, this indicator is useful for confirming trends and spotting trade setups.

Buy Strategy

Wait for the green or blue bars on the tick volume indicator.
Confirm that the volume is rising along with Price Action.
Enter a long position after seeing two or three consecutive upside bars.
Place a stop-loss near the recent swing low.
Exit the trade when the volume starts decreasing.

Sell Strategy

Look for red or golden bars on the indicator.
Confirm that the volume is dipping along with price action.
Enter a short position after two or three consecutive downside bars.
Place a stop-loss near the recent swing high.
Exit the trade when the volume begins increasing again.

Timeframes and Usage Tips

Best used on timeframes of 30 minutes or higher for meaningful volume readings.
Can be combined with RSI, MACD, or other trend indicators to filter out false signals.
Provides visual insight into market strength, helping traders decide whether to enter or avoid trades.

Conclusion

The Tick Volume Indicator for MT4 is a straightforward tool for assessing the strength behind price movements. By highlighting periods of high and low volume, it allows traders to make more informed decisions about entries and exits. While it works on any pair or timeframe above 30 minutes, combining it with other indicators can improve signal accuracy.