Re: Best Volume Indicator To Use?

4
Krelian99 wrote: Tue Feb 20, 2018 10:11 am What do you mean by "balanced"?

For me Hawkeye or the mod is pretty diversionary from the real story. It interprets too much and you have many "false signals". This way you can't learn to read volume.
yes i have same experiences with hawkeye too sir :cry:
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Re: Best Volume Indicator To Use?

5
I learned on the PVSRA indis, in subwindow and the candle-indi, see picture.
You can also take or combine it with Better Volume 1.5. There is also a candle version, but most important is the normal subwindow indi (here on this site is a zip with many versions of Better Volume - the 1.5 is the best).

Both show you colors of the candle when Volume and the spread of the candle merge in a pattern. These patterns you need to interpret depending on the price movement to S/R and EMAs and if you like longwick candles. There is no short way with Volume. When you understood it, it is really powerful.

The VSA indis are way to expensive and almost without exception useless - at least in FX. Didn't test it Futures.


Re: Best Volume Indicator To Use?

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Krelian99 wrote: Tue Feb 20, 2018 11:17 pm Here is a pic. Hope it helps a bit to understand how to read Volume and Price Action. Incoming Volume is as important as the absence of Volume.

Example how to read Volume and PA.png
good sharing
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Re: Best Volume Indicator To Use?

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My favorite Volume indicator to use is Volumes Emphasized. It also comes with a nice readout display that changes color on the volume.

Below I've also attached my presets setting for this indicator. I keep the bars turned off and have the Volume readout in my indicator subwindow. Feel free to use it too.

PS: Have a look through our Volume Indicators for MT4 thread as well :)
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Re: Best Volume Indicator To Use?

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My favorite indicators are RSI and VWAP.
First one works great for the instruments moving inside the range and helps to avoid opening trades at the end of the movement. At the same time, it could provide wrong signals in case of strong trend movement. It is better to use RSI for commodities when there are no important news released recently.
VWAP is another useful indicator that acts as support and resistance level and helps to understand the average price of the trades according to trading volume. It works fine even at the trending market and is suitable for any conditions or instruments.


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