Better Volume 1.5 Indicator: Six Kinds Of Volume Bar

Written by Dominic Walsh · Published 29 Jul 2026 · Last updated 9 Sep 2026

The better volume 1.5 indicator does more than plot activity. It sorts every bar into one of six types. Two derived figures drive that sorting, not the raw count. Colour then tells you which type you have.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Separate window
Plots	7: Climax Up, Climax Down, High Churn, Climax + Churn, Low Volume, Normal, Volume MA
Alerts	popup, push notification, email, sound
Inputs	8

What the Better Volume 1.5 Indicator draws on the chart

`Climax Up` fills red and `Climax Down` fills white.

`High Churn` fills lime and `Climax + Churn` fills yellow.

`Low Volume` fills magenta and `Normal` fills dark gray.

A dodger blue `Volume MA` line runs across all of them.

• Climax Up: histogram, red, width 2
• Climax Down: histogram, white, width 2
• High Churn: histogram, lime, width 2
• Climax + Churn: histogram, yellow, width 2
• Low Volume: histogram, magenta, width 2
• Normal: histogram, dark gray, width 2
• Volume MA: line, dodger blue, width 2

How the Better Volume 1.5 Indicator calculates its values

Two derived figures, not one

Each bar produces activity times range and activity divided by range. The first spots effort. The second spots churn. Both get ranked against the last `InpLookBack` `20` bars.

Six classes fall out

A bar topping the effort measure while closing up becomes a climax up. Topping the churn measure instead becomes high churn. Topping both turns yellow, and the quietest bars turn magenta.

The average gives context

iMAOnArray runs over the activity series at `InpMaPeriod` `20`. That line turns an absolute count into something you can judge as high or low.

How to read the signals

Climax bars mark effort, which can mean a push or an exhaustion.

Churn means a lot of activity produced very little range.

`Low Volume` bars often mark the pause before something happens.

Every class comes from tick volume, which counts updates rather than contracts.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`EnableAlerts` heads the four routes and arrives true with `EnablePopup`. Set `EnablePushNotify` for a mobile push, `EnableEmail` for mail, or `EnableSound` to play `SoundFile`. Those three arrive false. Class changes report on closed bars.

Every Better Volume 1.5 Indicator input

Core settings

Setting	What it does	Default
InpLookBack	Classification lookback (bars). Bars each measure gets ranked against, default `20`.	20
InpMaPeriod	Volume moving-average period. Bars in the activity average, default `20`.	20

Alert settings

Setting	What it does	Default
EnableAlerts	Head switch across the four routes, default `true`.	on
EnablePopup	MetaTrader dialog on a class change, default `true`.	on
EnablePushNotify	Mobile push on a class change, default `false`.	off
EnableEmail	Email on a class change, default `false`.	off
EnableSound	Audio cue on a class change, default `false`.	off
SoundFile	Audio file the cue uses, default `”alert.wav”`.	alert.wav

Settings that fit your chart

Classification needs enough updates per bar. EURUSD H1 is the reference chart. Each bar there carries thousands. On M1 the counts thin out and classes flicker. H4 gives stable, readable classes.

When the Better Volume 1.5 Indicator fails

Forex tick volume counts price updates, and every broker counts differently.

The labels shift as the twenty-bar window moves along.

A climax bar is ambiguous, since effort can mean continuation or exhaustion.

Copy the compiled Better Volume 1.5 Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the Better Volume 1.5 Indicator: Meltdown Monday on Wikipedia, Flag at Investopedia.

Download the Better Volume 1.5 Indicator for MT4 and MT5

The zip holds the compiled Better Volume 1.5 Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What two figures does InpLookBack rank?

Activity times range, and activity divided by range. The first spots effort, meaning a bar that traded heavily and moved. The second spots churn, meaning heavy trading that went nowhere.

Why does Climax Up draw in red?

Because a climax is ambiguous rather than bullish. Heavy effort on an up bar can mark a strong push or the point where buyers finish. The colouring deliberately avoids implying a direction.

What does InpLookBack 20 rank against?

The last twenty bars. A bar is only a climax relative to its neighbours, so the window decides what counts as extreme. Widening it makes the top classes rarer and more meaningful.

What does a Low Volume bar suggest?

That very little traded. In this method a quiet bar after heavy activity often marks a pause, though on its own it says nothing about which way the pause resolves.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Better Volume 1.5 Indicator as one input. Always backtest before trading live.