Bid-Ask Volume Indicator

The Bid-Ask Volume indicator is a tool that needs every scalper and intraday trader. It uses a unique algorithm to determine the activity of buyers and sellers and displays it in the form of a histogram. With this feature, the trader can easily compare the level of aggression between buyers and sellers and read the market context.

As we all know, the forex market is decentralized, so we do not have reliable information about the real volume. We also do not know the actual and historical values of the Bid volume (Sellers volume) and Ask volume (Buyers volume). However, we can use the tick count volume of Bid and Ask prices to determine the activity of buyers and sellers!

So, with our unique algorithm, we can get a similar volume as in the futures market. With this functionality, we can analyze the flow of buy and sell orders. As you’ll see, it’s a real Holy Grail!

How to Use the Bid-Ask Volume Indicator

First, we must note that using our indicator on the higher time frames is counterproductive. This is because the number of buyers and sellers is balanced on the higher time frames, so the indicator has no informative value. That’s why we recommend using it on the charts from M1 to M5.

The order flow context of the market should be analyzed for the last ten to thirty minutes. It is always necessary to assess the activity of both sides, buyers and sellers.

There are several scenarios of the order flow context:

 
Buyers and Sellers activity
Market condition
BAG
SAG
BAS
SAG
BAF
SAG
BAG
SAS
BAS
SAS
BAF
SAS
BAG
SAF
BAS
SAF
BAF
SAF
The market is in an uptrendLongLongLongLongLongLongShortShortShort
The market goes sidewaysNo tradeLongLongShortNo tradeLongShortShortNo trade
The market is in a downtrendShortShortLongShortShortLongShortShortLong
 
BAG – Buyers’ aggressivity grows
BAS – Buyers’ aggressivity stagnates
BAF – Buyers’ aggressivity falls
SAG – Sellers’ aggressivity grows
SAS – Sellers’ aggressivity stagnates
SAF – Sellers’ aggressivity falls

Recommendations

  • Do not switch between time frames when the indicator works.

Main Features

  • The indicator shows the Bid volume and Ask volume.
  • A simple comparison of buyers and sellers activity.
  • Alert notifications for the indicator values.
  • Works on every time frame.
  • The indicator is non-repainting.
  • Real-Time data is needed.
  • Saving the indicator values into a file.
  • Excellent results in conjunction with Support and Resistance levels.
  • Ideal tool for scalping.
  • High-speed calculation.
  • Available for MT4 and MT5.

Input Parameters

  • Volume_Mode - Allows choosing between the Bid Down_Ask Up, Bid Down_Ask Up_Total Up, Bid Up and Ask Up settings.
  • Record_Ticks_History - Allows saving the tick history data into a file.
  • Histogram_Thickness - Thickness of the output histogram.
  • Color_Bid_Volume - Color of the bid volume.
  • Color_Ask_Volume - Color of the ask volume.
  • Color_Total_Volume - Color of the total volume.
  • Alert - Allows to enable or disable alert notifications when the delta volume exceeds a specific value.
  • Alert_Bid_Threshold - Allows choosing a threshold value for the Bid volume.
  • Alert_Ask_Threshold - Allows choosing a threshold value for the Ask volume.
  • Alert_Sound - Allows choosing the alert sound.

Output Parameters

  • Volume_Bid - Value of the bid volume.
  • Volume_Ask - Value of the ask volume.
  • Volume_Total - Value of the total volume.

Screenshots

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All our products are available in the MQL5 market.

MetaTrader 4 version

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