The Better Volume indicator is a clean 4-colour histogram that classifies every bar by what it actually represents — climax up, climax down, churn, or low-volume noise. It’s the same idea as VSA but in a simpler visual format that anyone can read without learning the full Williams vocabulary.
Below is how the four colours map to actual market behaviour, the thresholds I use to filter false climax bars, and the climax-reversal entry that pairs cleanly with structure.
What is the Better Volume Indicator?
Better Volume was developed for futures markets but transfers cleanly to forex tick volume. It compares each bar’s volume and range to recent averages, then assigns one of four classifications:
- Climax Up (green) — high volume + wide range + bullish close. Strong buying conviction; can mark the END of a buying climax (reversal) or the START of one (breakout).
- Climax Down (red) — high volume + wide range + bearish close. Same logic in reverse for sellers.
- High-Volume Churn (orange) — high volume but narrow range. Effort without result; institutions absorbing without moving price. Often precedes a turn.
- Low-Volume Bar (grey/silver) — low volume regardless of direction. Lack of participation. Common in pullbacks during trends — a good thing if you’re a trend trader.
The classification compares each bar’s volume to the 20-bar average (configurable). Climax bars require both high volume AND wide range; churn requires high volume but narrow range; low-volume bars are below the threshold regardless of range.
The 4-colour visual encoding lets you scan a chart in seconds and immediately see where the conviction was — and wasn’t.
How Better Volume Works on MT4
Better Volume plots in a separate sub-window with each bar coloured according to its classification.
Three patterns matter for forex traders.
The first is climax at structural extremes. A green Climax-Up bar at a daily resistance is often the buying climax that marks a reversal. A red Climax-Down at major support is the seller exhaustion. The location matters as much as the colour.
The second is churn warnings. Orange bars at extremes are huge warnings. A churn bar after a long uptrend means institutions are absorbing supply without being able to push price further. Reversal often follows within 1-3 bars.
The third is low-volume confirmation in pullbacks. Grey/silver bars during a trend pullback are GOOD news — they confirm that the pullback is just lack of participation, not active selling/buying. Trend continuation likely. Pullbacks accompanied by churn or climax bars are the warning signs.
Key Features
- Custom MT4 indicator (FOB_BetterVolume.ex4)
- 4-colour bar classification (climax-up, climax-down, churn, low-volume)
- Configurable lookback (default 20 bars)
- Configurable climax/low-volume threshold multipliers
- Non-repainting once a bar closes
- Climax-bar alerts (popup, email, push)
Best Settings for Better Volume
The defaults work for most pairs and timeframes. Adjust thresholds for very volatile or quiet pairs.
| Use Case | Lookback | Climax Threshold | Low-Vol Threshold |
|---|---|---|---|
| Scalping | 15 bars | 1.5x | 0.6x |
| Day Trading | 20 bars | 1.5x | 0.5x |
| Swing Trading | 30 bars | 2.0x | 0.4x |
Recommended starting point: H1 chart with 20-bar lookback, 1.5x climax threshold. This is what I run live.
Pros and Cons
| Pros | Cons |
|---|---|
| Visual 4-colour read — easier than VSA’s pattern vocabulary | Forex tick volume is approximate |
| Climax bars + structure context = high-quality reversal entries | Custom install required — not built into MT4 |
| Low-volume bars in trends are excellent pullback confirmation | Climax bars at random levels are noise — need structural context |
| Works on every timeframe and instrument | Less granular than VSA for advanced practitioners |
How to Install Better Volume on MT4
Better Volume is a custom indicator. See install custom indicators on MT4.
Step 1: Download FOB_BetterVolume.ex4 from the form below.
Step 2: Open MT4 > File > Open Data Folder > MQL4 > Indicators. Drop the .ex4 in.
Step 3: Restart MT4 (or right-click Navigator > Refresh).
Step 4: Drag FOB_BetterVolume from Custom Indicators onto your chart. Set lookback to 20, climax threshold to 1.5, low-vol threshold to 0.5.
Step 5: Click OK. Save the chart as a template (“BetterVolume-H1”).
Trading Strategy: Climax-Bar Reversal
Best on H1 EURUSD, GBPUSD, gold at major structural levels.
Setup: Better Volume with default settings + 50 EMA on price + visual S/R levels from H4/D1 swing highs/lows.
Long Reversal Entry (after climax-down at support):
1. Price reaches a major H4 or D1 support level
2. A red Climax-Down bar prints at that support
3. The next bar closes back above the climax bar’s high
4. Enter long on the close of that confirmation bar
5. Stop loss below the climax bar’s low
Short Reversal Entry (after climax-up at resistance):
1. Price reaches a major H4 or D1 resistance level
2. A green Climax-Up bar prints at that resistance
3. The next bar closes back below the climax bar’s low
4. Enter short on confirmation
5. Stop loss above the climax bar’s high
Take Profit: Target the most recent opposing structure (previous swing low for shorts, previous swing high for longs). Trail with 50 EMA after 1.5R.
The discipline that matters: only act on climax bars at major structural levels. A green climax bar in the middle of a trend is just continuation; the same bar at a daily resistance is a reversal candidate. Structure is the filter.
Better Volume vs VSA
Same family of bar-classification tools. Different framings.
| Feature | Better Volume | VSA |
|---|---|---|
| Output | 4-colour histogram in subwindow | Arrows/shapes on chart |
| Patterns | 4 generic (climax/churn/low-vol) | 4 VSA-specific (Williams vocabulary) |
| Best for | Visual scanning and quick reads | Precision smart-money reading |
Verdict: Use Better Volume when you want quick visual climax detection. Use VSA when you want the precise Williams pattern set with no-demand/no-supply granularity.
Frequently Asked Questions
Is the Better Volume indicator free?
Yes. Our FOB_BetterVolume.ex4 is free below. Premium versions on TradingView cost $10-30/month.
Does Better Volume repaint?
No. Each bar’s colour is locked once that bar closes.
Does Better Volume work on forex?
Yes — the 4-colour classification works on tick volume the same way it does on real volume in futures.
What’s the best timeframe for Better Volume?
H1 and H4 give the cleanest reads with the best signal-to-noise ratio. M5 climax bars are too common to be meaningful.
Can I use Better Volume on MT5?
Yes. Our enhanced version supports both platforms.
Download Better Volume Indicator for MT4 – Free
Better Volume isn’t built into MT4. Our free FOB_BetterVolume.ex4 gives you:
- 4-colour histogram auto-classifying every bar
- Configurable lookback and thresholds per timeframe and pair
- Climax-bar alerts — popup, email, push when climax-up or climax-down fires
- Non-repainting — closed bars never change
Platform: MT4 (Build 1000+)
File type: .ex4
File size: 17 KB
Version: 1.2
Last updated: May 2026
Download the Better Volume Indicator – Free Instant Access
No payment. No catch. Enter your email below and the Better Volume Indicator file lands in your inbox within 60 seconds. Here’s everything you get:
- The non-repainting Better Volume Indicator file (.ex4) – install in 30 seconds
- Step-by-step installation guide with chart screenshots
- Best-performing settings for scalping, day trading, and swing trading
- The exact climax-bar reversal rules I use in live trading
- Weekly trading insights from a developer with 16+ years of market experience
Download the Better Volume Indicator – Free Instant Access
No payment. No catch. Enter your email below and the Better Volume Indicator file lands in your inbox within 60 seconds. Here’s everything you get:
- The non-repainting Better Volume Indicator file (.ex4) – install in 30 seconds
- Step-by-step installation guide with chart screenshots
- Best-performing settings for scalping, day trading, and swing trading
- The exact entry and exit rules Dom uses in live trading
- Weekly trading insights from a developer with 16+ years of market experience
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Overall Rating: 4.5/5
| Category | Rating |
|---|---|
| Accuracy | 4.5/5 |
| Ease of Use | 4.7/5 |
| Features | 4.4/5 |
| Value | 4.6/5 |
Related Indicators
- VSA Indicator MT4 – The Williams pattern-set alternative to Better Volume
- Tick Volume Indicator MT4 – The raw tick-volume input
- OBV Indicator MT4 – Cumulative volume read for trend confirmation
- Best Volume Indicators for MT4 – The full ranked list
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