In order to overcome problems in the tick volume from FXCM, I modified the Better Volume Indicator.
The core functionality and logic of this indicator is not changed. Please refer to the original author for any details of its operation. My changes only relate to the technique of reconstructing the tick data volume from lower time-frame source data (e.g. 1min), which mitigates many (but not all) of the problems.
Here's a screenshot. You can see the regular indicator (BETVOL_V3) on top, and the new BETTER_VOLUME indicator below. This is a daily chart. You can see BETVOL incorrectly shows a (magenta coloured) "climax churn" bar for Thursday. This was due to an anomaly in the data. There are often more errors in the data for the current week, e.g. higher tick data values, but some of these are already corrected since the screenshot was taken after the Friday close.
Here's the code.
I also wrote a Volume Indicator which use this "volume reconstruction" method. Further updates and enhancements will probably go on my blog.
NOTE: The default colour for the climax-down bar is white! If you use a white background like I do, then you should change this (I made it cyan). I left the default colour white, since this is how the original author has it.
The indicator was revised and updated