Better Volume 1.5 Indicator

Description

Trading volumes can reveal traders’ moods and anticipate their conduct in financial markets. They can also help you trade profitably or avoid the market during big volume changes. This is why the Better Volume 1.5 indicator was created for MT5.

Contents:

1. Description
2. Features
3. Buy and Sell strategies
4. Settings

1. Better Volume 1.5 Indicator Description

Better Volume 1.5 creates a trade volume histogram from Forex market players’ activities.

For a given time, volume is the number of contracts or shares traded or bought.

Due to its unique trading style, Forex traders employ tick volumes to compute open lots. Tick volume measures the number of price changes over a specific time period.

The Better Volume 1.5 indicator accurately distinguishes traders by transaction volume over time. Thus, you can understand Forex market participants’ motivations and use this to create your own trading method based on trade volume.

2.Better Volume 1.5 Indicator Features

The default Volumes indicator in MetaTrader 5 has been enhanced to BetterVolume 1.5.

How do these conventional MT5 volumes differ from the revised volume-based BetterVolume 1.5 indicators?

First, Better Volume 1.5 filters harsher. When tick volume rises or falls, Better Volume 1.5 categorizes it by color.

Second, the Better Volume 1.5 Indicator creates a moving average that crosses volume histogram bars to provide a trading signal.

Tick volumes of the indicator can trade and inform.

Information volumes:

White volumes are ordinary trading.

Red volumes imply low trading. It’s best to avoid buying and selling when volumes decline since Forex market players may be wary.

Blue volumes signal trader interest. However, since volumes are rising due to the repositioning of the leading Forex market participants, it is best to avoid trading. It becomes difficult to predict price direction at such times.

Trade volumes:

SeaGreen indicates client growth.

Orange amounts indicate more seller activity.

Both scenarios allow purchasing and selling. We propose trading based on the primary trend and market picture to enhance your chances of a good trade.

3. Better Volume 1.5 Indicator Buy and Sell strategies

As noted above, the indicator’s trading indications should be evaluated to Forex market mood and trend.

Since a sell entry point is a signal to close the position, the stop loss for this trade needs to be placed below the trend line.

The indicator in this instance shows a rise in sales volumes. A downtrend line acts as an extra indication and raises your chances of making a profitable transaction, as the buying example illustrates.

You can securely position your stop loss behind the trend line and find sell entry points at the market price. When the reverse signal (purchase) appears, a sell deal should be concluded.

After installing the indicator, you could find it hard to see it because the volumes are colored in a rather wide range of hues.

Its ease of use and the separation of volumes into trading and informative and roughly configured indicator filters, however, make up for this minor flaw and can be helpful when trading forex.