VolumeCandlesticks Indicator V1.08 MT5 – See Volume Inside Every Candle


Sick of guessing whether that green candle had any real “muscle” behind it? If you’ve been burned by weak breakouts or fake reversals, you’ll love this: VolumeCandlesticks Indicator V1.08 MT5 color-codes every candle by volume strength so you can instantly spot high-participation moves vs. hollow drifts. And yep, it’s 100% free on ForexFactory.cc, powered by YoForex (the same crew that rigorously tests before we publish). No subscriptions, no hidden “pro” tier—just download, drop into MT5, and trade smarter.


Download VolumeCandlesticks Indicator V1.08 MT5
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Overview


VolumeCandlesticks Indicator V1.08 MT5 overlays your chart with candles colored by relative tick volume, volatility and range—so you get a quick-read on who’s actually participating behind each move. Instead of flipping between a price chart and a separate volume pane, you get the context baked right into each candle body and wick. See those big “pop” moments that institutions love? They’ll stand out. Quiet chop? It’ll look quiet, too.


Under the hood, the indicator compares each candle’s tick volume to adaptive thresholds (think: dynamic baselines instead of fixed numbers), then blends that with range/ATR checks to avoid miscoloring during time-of-day lulls. The result is a super-clean, at-a-glance volume story—without repainting or laggy afterthoughts.


This release is part of YoForex’s “free-and-open” toolkit on ForexFactory.cc. We’ve run it through historical and live feed checks, validated color thresholds on majors plus gold, and tuned the default settings so you can get value right out of the box. If you want to tweak (and most pros eventually do), there’s a slim, sensible input list—not a kitchen sink of mystery toggles.



Key Features


• Color-coded candles by volume strength (weak, normal, strong bursts)
• Range-aware logic to avoid false “strong” reads in dead sessions
• No repainting—what you see on close is what stays
• Alerts & push notifications when a “strong volume” candle prints
• Session filters (London/NY/Asia) to tailor sensitivity by market hours
• Multi-symbol ready—works on FX, metals, indices, crypto (anything in MT5)
• Lightweight & fast even on multi-chart layouts
• Works with any strategy—breakouts, pullbacks, SMC, candlestick patterns
• Robust defaults for beginners; granular controls for advanced users
• Fully compatible with prop-firm style risk rules (it’s an indicator, not a martingale bot)
• MT5 build-friendly and VPS-safe
• Free lifetime updates via ForexFactory.cc, powered by YoForex


Best Pairs & Time Frames 


Pairs: Works across all symbols supported by your MT5—EURUSD, GBPUSD, USDJPY, XAUUSD, US30, DAX, crypto pairs, you name it. For the clearest reads and tight spreads, we recommend majors and gold.


Time Frames: M5–H1 for intraday confirmation, H4–D1 for swing context. Scalpers can use M1–M5 with slightly higher sensitivity; swing traders will love H4/D1 to filter the noise. Coz markets breathe differently across sessions, the session filters help a lot.


How It Works 


Instead of simply plotting raw volume below your chart, VolumeCandlesticks Indicator V1.08 MT5 categorizes each candle by comparing its tick volume to a rolling baseline that adapts to the pair and session. When volume expands substantially (and range confirms), you’ll see a “strong” color; when it contracts, you’ll see a “soft/neutral” tone. This makes trend continuations and failed breakouts easier to judge—was that breakout driven by genuine participation, or did price just tiptoe across a level without buy-in?


Typical use cases:



  • Breakout traders: Wait for a strong-volume candle through a key level; avoid low-energy “fake” breaks.

  • Pullback traders: If pullback candles print on low volume, the original trend’s more likely to resume.

  • Reversal hunters: Volume drying up into a level + rejection wick = higher quality reversal candidate.

  • News watchers: Spot post-news follow-through candles with legitimate participation vs knee-jerk spikes.


Backtest & Real-Market Checks


We know indicators get judged by how they behave in messy, real-world data. So while there isn’t an “equity curve” (since this isn’t an EA), we stress-tested VolumeCandlesticks Indicator V1.08 MT5 on:



  • EURUSD, GBPUSD, USDJPY, XAUUSD across M5, M15, H1, H4

  • Two full years of tick data including NFP, CPI, FOMC weeks

  • London + NY session overlaps where false breaks are common


What we looked for was consistency of “strong” candle coloring during real momentum drives, and a lack of “false strong” prints during lunchtime lulls or pre-session drift. The indicator’s adaptive thresholds held up nicely—strong candles mostly aligned with meaningful pushes, while low-volume consolidations stayed muted.


If you’re a data geek (same), try a simple rules test: enter on the first strong-volume candle that breaks a consolidation, set stops beyond structure, and compare against the same test with volume ignored. You’ll often see better selectivity and fewer “ghost” entries. Not magic; just cleaner context.


Installation & Setup (MT5)



  1. Download the file from ForexFactory.cc →
    Download VolumeCandlesticks Indicator V1.08 MT5

  2. Copy the file into MT5:
    File → Open Data Folder → MQL5 → Indicators → paste the .ex5/.mq5 file.

  3. Restart MT5 (or refresh the Navigator) → find it under Navigator → Indicators.

  4. Attach to chart → right-click the indicator in Navigator → “Attach to a chart”.

  5. Load defaults (recommended) or tweak:



  • Strong Volume Threshold: start at 1.5x–2.0x relative baseline

  • Range Filter (ATR%): 0.8–1.2 works well intraday

  • Session Filter: enable London/NY; loosen Asia if you trade it

  • Alerts: enable push/desktop for “Strong Volume Candle”


    6. Save a template so you can apply it to new charts with one click.



Practical Playbook 



  • Breakout Recipe: Mark a recent consolidation box → take only breaks where the breakout candle prints Strong Volume → enter with SL beyond box → scale partials at 1R, trail beyond structure.

  • Pullback Recipe: Trend identified on H1 → drop to M15 → buy pullbacks where the pullback candles show Soft/Low Volume and the resumption candle prints Strong Volume.

  • Fake-Break Filter: If a level breaks on Low Volume, treat it as suspect until a Strong Volume follow-through candle confirms.


Why Choose YoForex-Powered Tools?


Because you’re tired of guesswork, and we’re tired of gimmicks. YoForex builds trading tools we actually use, then we publish the useful ones free on ForexFactory.cc. You get:



  • Free lifetime updates

  • Ongoing optimizations informed by community feedback

  • Transparent change logs & usage tips

  • Zero fluff—clean, documented inputs; no shady “secret sauce”


Learn more about us on the YoForex pages at ForexFactory.cc and explore the rest of our free stack in the Indicators section.


Support & Disclaimer


Got issues or want setup help? Ping our team—real humans, fast replies.



Disclaimer: This is an informational indicator. Past performance isn’t a guarantee of future results. Always test on demo, manage risk, and trade within your plan. Markets can be wild—don’t over-leverage, and don’t trade what you can’t afford to lose. Simple as that.


Call to Action


If clarity is your edge, this will feel like cheating (it’s not, tho). Grab your free copy of VolumeCandlesticks Indicator V1.08 MT5, plug it into your workflow, and let your eyes instantly separate real moves from fluff. And if you want a hand fine-tuning settings for your pair or prop rules, hit us on WhatsApp or Telegram—unlimited, 100% free support.


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Happy Trading