ChronoVolume Out there right here:
https://www.mql5.com/en/market/product/146081
It’s a complicated quantity evaluation indicator.
Overview:
ChronoVolume analyzes quantity information in MetaTrader 4 by changing fundamental tick quantity into significant buying and selling insights.
Since MT4 solely offers tick quantity (variety of worth adjustments), this indicator makes use of algorithms to estimate shopping for and promoting stress, supplying you with a clearer image of market sentiment.
It affords 3 ways to calculate quantity (sorts) and 3 ways to show it (modes), permitting you to research from completely different views.
Quantity Calculation Strategies
1. Value Motion Quantity Kind
Analyzes the place the closing worth falls inside every bar’s vary to estimate shopping for vs promoting stress.
The way it works:
If excessive → Extra shopping for stress
If shut is close to the low → Extra promoting stress
If shut is within the center → Balanced exercise
Purchase Quantity = Whole Quantity × (Shut – Low) / (Excessive – Low)
Promote Quantity = Whole Quantity × (Excessive – Shut) / (Excessive – Low)
Greatest for: Conventional breakout evaluation, pattern affirmation, divergence recognizing
2. Bull/Bear Energy Quantity Kind
Makes use of deviation from a 13-period transferring common to measure institutional shopping for and promoting power.
The way it works:
EMA13 = 13-period transferring common of closing costs
Bull Energy = Excessive – EMA13 (how far excessive extends above common)
Bear Energy = Low – EMA13 (how far low extends beneath common)
Distribution primarily based on absolute values of Bull Energy vs Bear Energy
Greatest for: Momentum evaluation, institutional stream detection, EMA-based methods
3. Tick Quantity Kind
Enhanced processing of uncooked tick quantity with out directional bias.
The way it works:
Pure tick quantity with superior smoothing and scaling
No assumptions about shopping for vs promoting
Greatest for: General market participation, quantity spikes, impartial evaluation
Show Modes:
a) Traditional Mode
Reveals quantity relative to latest averages, good for figuring out uncommon exercise.
What you see:
- Histogram bars exhibiting present quantity in comparison with common
- Optionally available easy line for pattern identification
- Shade coding primarily based in your chosen quantity calculation technique
Calculations:
– Calculate relative quantity: Present Quantity/Common of final 6 bars
– Apply smoothing: Recognizing quantity spikes, confirming breakouts, figuring out divergences
b) Oscillator Mode
Transforms quantity into momentum format, oscillating round zero to indicate directional stress.
What you see:
- Values above zero = Web shopping for stress
- Values beneath zero = Web promoting stress
- Optionally available easy line exhibiting momentum path
Calculations:
– Calculate shopping for vs promoting distinction
– Apply two EMAs (21 and 36 intervals) to easy the information
– Take distinction between quick and sluggish EMA4. Normalize utilizing sigmoid operate for bounded oscillator
Use for: Momentum shifts, overbought/oversold circumstances, zero-line crosses
c) Delta Mode
Reveals internet shopping for vs promoting stress, revealing institutional order stream.
What you see:
- Constructive bars = Shopping for dominance
- Unfavorable bars = Promoting dominance
- Magnitude reveals power of internet stream
Mathematical course of:
1. Begin with shopping for vs promoting distinction
2. Scale by quantity context (× 200-period common × 20)
3. Apply EMAs (21 and 36 intervals) to scaled values
4. Easy the distinction with adjustable smoothing issue
Use for: Institutional stream evaluation, early reversal detection, internet stress evaluation
Settings:
Core Settings
- Relative Size (1-10): What number of bars to look again for common quantity calculation. Decrease = extra delicate to latest adjustments
- Show Mode: Select Traditional, Oscillator, or Delta primarily based in your evaluation wants
- Quantity Kind: Choose Value Motion, Bull/Bear Energy, or Tick Quantity calculation
- Bar Shift: Controls repainting conduct (0 = real-time updates, 1 = confirmed alerts solely)
Visible Choices
- Present Uncooked Tick Quantity: Provides grey background bars exhibiting precise tick quantity for reference
- Present Smoothing Line: Permits pattern line with clever coloration coding
- Shade Customization: Modify all colours to match your chart theme
Superior Controls
- Oscillator EMA Lengths: High quality-tune the 21 and 36-period averages for momentum calculation
- Delta Smoothing Issue: Modify noise discount in Delta mode (increased = smoother)
- Most Previous Bars: Restrict calculation scope for higher efficiency
Studying the Indicators
Quantity Spikes (All Sorts):
- Massive bars point out uncommon exercise
- Examine present bar peak to latest common
- Spikes usually precede important worth strikes
Shade Interpretation:
- Inexperienced/Teal: Shopping for stress or upward momentum
- Purple: Promoting stress or downward momentum
- Grey: Impartial or uncooked tick quantity
Easy Line Indicators:
- Path adjustments: Potential momentum shifts
- Shade adjustments: Pattern affirmation or reversal warning
- Slope: Power of present pattern
Mode-Particular Functions
Traditional Mode Functions:
- Affirm breakouts with quantity spikes
- Spot divergences (worth up, quantity down = weak point)
- Establish accumulation/distribution phases
- Validate help/resistance ranges
Oscillator Mode Functions:
- Commerce zero-line crosses with worth affirmation
- Establish momentum divergences
- Spot overbought/oversold extremes
- Affirm pattern power
Delta Mode Functions:
- Observe institutional shopping for/promoting campaigns
- Establish early reversal alerts
- Affirm pattern sustainability
- Analyze internet order stream imbalances
Greatest Practices
Timeframe Choice:
- Decrease timeframes (M1, M5): Extra noise, use for entry timing
- Larger timeframes (H1, H4): Cleaner alerts, higher for pattern evaluation
- A number of timeframes: Greatest total perspective
Combining with Value Motion:
- Excessive quantity breakouts are extra dependable than low quantity ones
- Quantity ought to verify worth path for sturdy tendencies
- Divergences between worth and quantity usually sign reversals
Threat Administration:
- Use quantity affirmation to dimension positions (excessive quantity = increased confidence)
- Be cautious of strikes on declining quantity
- Monitor quantity patterns for early exit alerts
Widespread Patterns
Breakout Affirmation
- Value breaks resistance + quantity spike = Sturdy breakout
- Value breaks resistance + low quantity = Potential false breakout
Pattern Evaluation
- Uptrend + growing quantity = Wholesome pattern continuation
- Uptrend + lowering quantity = Potential pattern weak point
Reversal Indicators
- Value makes new excessive + quantity makes decrease excessive = Bearish divergence
- Heavy quantity at help/resistance = Potential reversal zone
Accumulation/Distribution
- Value consolidates + quantity will increase = Potential breakout setup
- Value rises + quantity decreases = Attainable distribution part
Suggestions for Totally different Buying and selling Types
Day Buying and selling
- Use Oscillator mode on decrease timeframes
- Deal with zero-line crosses and momentum shifts
- Mix with worth motion for entry timing
Swing Buying and selling
- Use Traditional or Delta mode on increased timeframes
- Search for quantity affirmation on weekly/each day ranges
- Deal with multi-day quantity patterns
Scalping
- Use any mode on M1-M5 timeframes
- Deal with quick quantity spikes
- Fast in/out primarily based on quantity momentum
Place Buying and selling
- Use Delta mode on each day/weekly charts
- Observe long-term institutional stream
- Deal with main quantity pattern adjustments
Why Oscillator Mode Must Recalculate Previous Bars:
The oscillator mode makes use of a series of three Exponential Shifting Averages (EMAs) – a 21-period EMA, a 36-period EMA, and a closing 9-period EMA of their distinction. Every EMA calculation depends upon the earlier bar’s EMA worth.
Smoothing Results: Not like easy transferring averages that solely take a look at a set window of knowledge, EMAs give exponentially lowering weight to older values and extra weight to newer values.
Calculation Order Sensitivity: The oscillator’s closing worth comes from normalizing the distinction between the quick and lengthy EMAs utilizing a 200-period Easy Shifting Common (SMA) of absolute variations.
This creates a suggestions loop the place:
– New worth information impacts the purchase/promote momentum calculation
– This adjustments the EMA values for latest bars
– The EMA adjustments have an effect on the normalization issue (boundSMA)
– The brand new normalization issue recalculates oscillator values for previous bars
Sensible Influence: Whereas this recalculation is mathematically right and offers smoother, extra responsive alerts, it signifies that oscillator values for the final 50-200 bars could shift barely when new information arrives. For many buying and selling functions, this smoothing profit outweighs the historic worth changes. As a result of new information is extra important for present trades. If you would like completely non-repainting quantity bars, then do not use the oscillator mode.
Bear in mind: Quantity evaluation works greatest when mixed with worth motion and different technical evaluation strategies.
Use ChronoVolume to verify your buying and selling concepts quite than as a standalone sign generator.
How Oscillators are Truly Helpful:
They’re nice for vaildating trades. Instance, right here worth seems prefer it’s breaking out of a good vary, and would possibly enter a bullish transfer.
However oscillators are nonetheless beneath 0, and present bearish strains. So not the most effective time to commerce simply but:
And certainly sufficient, after a number of bars, worth nonetheless stays in a spread:
Lastly when oscillators do transfer above 0, worth goes Bullish:
Bull/Bear energy oscillator takes it is time to go above 0, however after that the pattern actually picks up.
However, one factor to watch out about Bull/Bear Energy, is that it research the Bull vs Bear energy push and pull.
And so the histogram bars would possibly generally look too lengthy, even when worth is in a sluggish market transfer.
So it is nice for capturing pattern shifts, however watch out throughout sluggish markets. Different quantity sorts replicate sluggish markets so much higher:
Neatest thing to do is to match all modes and quantity sorts side-by-side and see which one fits your buying and selling greatest.
The indicator is a single histogram solely. However you’ll be able to place a number of on the chart:
Debugging:
Hold DebugPastBars to any worth greater than 0, and it’ll present you detailed debug logs in your Specialists tab.
It’s extremely helpful when evaluating values. By default it’s off (set to 0):
Enhanced Alert System
Alerts are designed to inform merchants of great quantity and pattern occasions throughout all show modes.
The alert system contains six distinct alert sorts that may be turned on/off:
Core Quantity Alerts:
- Quantity Spike Detection: Triggers when present quantity exceeds a configurable a number of (default 2x) of the 200-period common, serving to determine sudden will increase in market exercise
- Quantity Drought Alerts: Notifies when quantity drops beneath a specified share (default 30%) of the common, indicating intervals of low market participation
- Relative Quantity Thresholds: Supplies alerts when relative quantity crosses above excessive ranges (default 3.0) or beneath low ranges (default 0.5), providing early warning of bizarre quantity circumstances
Technical Evaluation Alerts:
- Zero Cross Alerts: Out there in Oscillator and Delta modes, these alerts set off when the indicator crosses above or beneath the zero line, signaling potential pattern adjustments
- Easy Line Path Adjustments: Detects when the sleek line transitions between bullish and bearish states, offering pattern reversal alerts primarily based on the chosen quantity mode
- Bull/Bear Energy Dominance: Unique to Energy mode, this alert screens consecutive bars the place bull or bear energy exceeds a threshold share (default 70% for 3+ consecutive bars), indicating sustained directional stress
Hold shiftBars 1, to make sure that alerts are primarily based on confirmed bar information quite than fluctuating real-time values for ongoing bar 0.
In case you have a number of indicators on identical chart, use Prefix to separate the alerts:
Easy Line Alerts do not work for Traditional Mode, as that solely has a single coloured line. And does not observe the up/down pattern actions.
Larger Timeframes:
You may also choose the next timeframe from drop-down.
This is EURUSD H1 chart utilizing the next H4 timeframe:
