About the Volume Candlesticks Indicator
The Volume Candlesticks Indicator for MT5 highlights high and low volume candles directly on the price chart to help traders understand market participation.
High-volume candles are displayed in red, while low-volume candles appear in blue.
By analyzing these candles, traders can identify potential continuation moves or possible reversals in both trending and ranging markets.
Strong volume often confirms momentum, while weak volume may suggest consolidation or hesitation.
The indicator allows customization of the number of bars, high-volume candle colors, low-volume candle colors, and shadow candles.
Free Download
VolumeCandlesticks.mq5 Indicator (MT5)
Key Features
- Displays high-volume candles in red and low-volume candles in blue.
- Helps identify potential continuation or reversal zones.
- Supports customization of bar count and candle colors.
- Assists scalpers and day traders during volatile sessions.
- Enhances price action analysis through volume confirmation.
Indicator Chart
The chart below shows the Volume Candlesticks Indicator applied directly to the main price area.
Red candles represent high trading volume, while blue candles indicate lower participation.
Traders can quickly assess whether price moves are supported by strong volume or developing in quieter conditions.
Guide to Trade with Volume Candlesticks Indicator
Buy Rules
- Confirm that the overall market trend is bullish before entering a buy trade.
- Look for a red high-volume bullish candle forming in the direction of the trend.
- Enter the buy position at the close of the high-volume candle.
Sell Rules
- Confirm that the overall market trend is bearish before entering a sell trade.
- Look for a red high-volume bearish candle forming in the direction of the trend.
- Enter the sell position at the close of the high-volume candle.
Stop Loss
- For buy trades, set a protective stop loss below the low of the high-volume candle.
- For sell trades, set a protective stop loss above the high of the high-volume candle.
- Risk only a small percentage of your trading capital per position.
Take Profits
- Target a minimum risk-to-reward ratio of 1.5 to 1 on each trade.
- Close buy trades near resistance levels or when momentum weakens.
- Close sell trades near support levels or when bearish pressure fades.
Volume Candlesticks Super Trend Day Trading Strategy MT5
This day trading strategy combines volume-based entry signals with trend confirmation by using the Volume Candlesticks Forex Indicator for MT5 and the Super Trend Indicator MT5.
It focuses on capturing intraday price movements while filtering trades to follow the prevailing market direction.
The Volume Candlesticks Indicator identifies high-volume price moves that often precede strong momentum.
The Super Trend Indicator confirms the trend direction.
A green line indicates a bullish trend, helping to align buy trades with the market momentum.
A red line shows a bearish trend, ensuring that sell trades follow the dominant pressure.
Combining these two indicators improves trade accuracy and reduces false entries in choppy conditions.
This strategy is ideal for M5 to M15 timeframes, making it suitable for day traders who want structured setups with quick entries and exits.
Buy Entry Rules
- Confirm that the Super Trend Indicator displays a green line, indicating a bullish trend.
- Wait for a red high-volume bullish candle from the Volume Candlesticks Indicator.
- Enter a buy trade immediately after the candle closes.
- Place stop loss below the recent intraday swing low.
- Close the trade fully when a red high-volume bearish candle appears or when the Super Trend line turns red.
Sell Entry Rules
- Confirm that the Super Trend Indicator displays a red line, indicating a bearish trend.
- Wait for a red high-volume bearish candle from the Volume Candlesticks Indicator.
- Enter a sell trade immediately after the candle closes.
- Place a stop loss above the recent intraday swing high.
- Close the trade completely when a red high-volume bullish candle appears or when the Super Trend line turns green.
Case Study 1: EURUSD Buy Trade
On the M5 timeframe, the Super Trend Indicator showed a green line, confirming bullish conditions.
Shortly after, a red high-volume bullish candle appeared on the Volume Candlesticks Indicator.
A buy trade was entered immediately after the candle closed. Price moved upward steadily with strong momentum.
The trade was closed when a red high-volume bearish candle appeared, securing 24 pips.
Case Study 2: GBPJPY Sell Trade
On the M15 timeframe, the Super Trend Indicator displayed a red line, confirming bearish conditions.
Shortly after, a red high-volume bearish candle appeared on the Volume Candlesticks Indicator.
A sell trade was executed immediately after the candle closed. Price declined steadily in line with the trend.
The position was closed when a red high-volume bullish candle appeared, capturing 37 pips.
Download Now
VolumeCandlesticks.mq5 Indicator (MT5)
FAQ
What does a red high-volume candle indicate?
A red high-volume candle signals strong market participation.
It can confirm a continuation move or mark a potential reversal depending on context.
What does a blue low-volume candle suggest?
A blue candle reflects lower market activity.
It often appears during consolidation phases or quieter trading sessions.
Can the indicator be customized?
Yes, traders can adjust the number of bars displayed and modify colors for high-volume, low-volume, and shadow candles.
Which traders benefit most from this tool?
Scalpers and day traders benefit most during high volatility sessions, as volume spikes often precede strong price movements.
Summary
The Volume Candlesticks Indicator integrates volume data directly into price candles, allowing traders to evaluate market participation in real time.
High-volume candles help confirm momentum, while low-volume candles signal consolidation or hesitation.
With customizable settings and compatibility across all instruments and timeframes, this tool enhances price action analysis and trade timing.
Traders who combine volume confirmation with disciplined risk management can improve entry precision and overall trading performance.
