The main difficulty lies in the correct identification of the received signal, because it is necessary to take into account both the readings of the indicators and the volatility of the pair in a certain period of time. Better volume indicator has a number of features that facilitate this process.
Better volume Forex indicator: peculiarities of work. The main feature of this indicator is that it takes into account several typical combinations of candles and volume quantities. The indicators for each signal are color coded for your convenience:. The peculiarities of the indicator should include the addition of the moving average with a period equal to by default, which is used as a secondary filter.
When the bar crosses it, the force of the received signal increases. Setup of the indicator is similar to installation of other indicators — all you need is to copy the files with. To get started, you need to drag the indicator to the price chart of the corresponding currency.
The settings of the indicator include such parameters as the color for each of the above signals, the period of the moving average by default and the number of candles that the indicator uses to calculate each new bar. By default, the indicator analyzes the data for the previous 20 candles, and this value is recommended to leave unchanged for any timeframe. Better volume Forex indicator, just like any other volume indicator, does not give a clear signal to enter the market.
Therefore, it can only be used in combination with other tools — for example, to determine the completion of the trend movement and timely profit-taking. The occurrence of one of these signals should only alert a trader and make them more closely monitor the situation in the market.
It is better to give the priority in making deals to the usual signals — for example, if the white bar appeared on the chart, it is better to wait for the breakthrough of the trend line. It is recommended to open the short position in this case only on the retest of the broken support line.
Integration of better volume indicator into trading system. The indicator under review can be integrated into almost any trading system. It can act as a decent filter of the false signals and help close the deal with maximum profit in time. Therefore, it can be used both in indicator-only strategies and in trading with the help of the wave or technical analysis.
The trading system under review mainly uses technical analysis, Fibonacci levels and the Stochastic Oscillator. The indicator is used to search for divergences and the points the correction completion. Special attention is given to candle combinations. If you add the better volume Forex indicator to the trading system, you will get another signal to enter the market. And it is clear that the indicator reported the near completion of the correction before the Stochastic did and before the retest of the trend line.
Then the confirmation was received: a green bar. In some cases, this indicator makes it possible to minimize losses or to make a deal at the beginning of the emerging trend. The current version differs from the previous one by more powerful customization capabilities and best suits for intraday trading. The given indicator paints vertical bars of volumes in blue, yellow, green, red, and white colors.
Blue bars account for much of the bars in the Better Volume Indicator. Blue bar means that nothing special has happened in the market and volumes of trades match the standard values for their time period. A yellow bar indicates a very low trading volume. The bar of this kind always has a very low height. A decrease in volumes typically occurs when the current trend is close to its completion. The yellow bar may also mean the end of market retracement. A green bar implies that large volumes are present in the market.
At that, height of the candle corresponding to the green bar is usually small. That is especially the case if large hedge funds close their positions or open new ones. When a green bar appears in the volumes histogram, it signals a possible change in trend direction. That does not mean, however, that price is going to reverse immediately and sharply. The price reversal may happen later due to the effect of the market inertia.
A red bar usually stands out for its height and indicates a large domination of buyers over sellers in the market. This is often true when buyers enter the market quickly. The red bar may be followed by a change in trend direction from bearish towards bullish or a deep bullish retracement. A white bar plays the same role as the red one.
The only difference between them is that the former signals a sharp increase in the activity of sellers in the market. The white bar may be followed by the market reversal to the downside preceded by an uptrend or a deep bearish retracement. The diagram of the Better Volume indicator also includes a moving average which primary purpose is to divide bars of volumes by their height.
In conclusion, let us stress that the Better Volume indicator actually provides traders with a basis for developing their own trading system. Despite its simplicity, it appeals to the fundamental data, i. If you have any difficulties while installing the indicator, please view the detailed instruction. How to Install. Product Info. System Requirements. Product Categories. Indicators 22 Sentiment 9 Signal 6 Utilities 7.
All-In-One Free. The indicator automatically draws important Pivot Points using the most popular methods: Classical Floor , Camarilla, Woodie and Fibonacci. OrderBook Pro.
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Where to find best volume indicators for traders. The volume indicator is a technical indicator for MT4, MT5, cTrader and various other trading. The best volume indicator for stocks is the OBV indicator, which is also known as on-balance volume. This indicator compares share price. The MetaTrader Volumes indicator is one of the best and most popular tick volume indicators available for Forex trading. Fortunately, this.