Visualizing Unusual Volume with a Standard Deviation Bubble Indicator
Summary
The article presents an MQL5 chart overlay that turns recent volume into bubbles sized according to activity relative to a lookback baseline. It explains tick volume and exchange-reported real volume, then outlines calculating mean volume, variance, and standard deviation across a recent window. Each bar receives a normalized score based on its volume relative to that standard deviation; score ranges map to bubble sizes, and comparison with the previous bar sets the color to indicate rising or falling activity. Extreme scores also receive compact volume labels.
The discussion covers drawing, updating, and removing chart objects so that bubbles do not duplicate or remain after they leave the window or the indicator is removed. It positions the visualization as a contextual alternative to raw volume bars, not as a tested entry or exit strategy. The document supplies no quantified predictive or trading results, and its interpretation depends on the available volume feed: tick volume counts price updates and may stand in for traded quantity in decentralized markets, while real volume is available where transactions are recorded.
Key ideas
- A recent lookback window defines the baseline for judging whether volume is unusual.
- Mean, variance, and standard deviation support normalization of each bar's volume.
- Bubble size represents normalized activity, while color compares current volume with the previous bar.
- Extreme volume scores can be annotated with formatted quantities, and chart objects need lifecycle management.
- Tick volume and real volume measure different things, and availability depends on the market and data source.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.