Better Volume 1.5 MT4 Forex Indicator Download

In financial markets, trading volumes are crucial because they help explain traders’ attitudes and forecast their potential behavior. If you use them, you may also decide whether to stay out of the market or make a winning trading move, knowing that it’s better to wait through the periods of significant volume shifts. The Better Volume 1.5 indicator was created specifically for these goals. This article has more information about it.

Contents:

1. Description

2. Features

3. Buy and Sell strategies

4. Settings

1. Description Better Volume 1.5

The BetterVolume 1.5 indicator monitors the activity of traders on the Forex market and creates a histogram that displays the volume of trades.

Volume is the total amount of contracts or stock that were sold or bought during a specific time period.

Due to a unique trading methodology, it is impossible to calculate the number of open lots in the Forex market. Instead, traders use the concept of tick volumes. The entire price changes over a specific period of time are reflected in the tick volume.

The BetterVolume 1.5 indicator is useful because it distinguishes the trading activity of traders with sufficient accuracy based on the volume of completed transactions at various times in time. As a result, depending on the trading volume, you have the chance to comprehend the driving forces behind the activity of Forex market players and use this information to construct your trading strategy.

01.Features Better Volume 1.5 Indicator

The Volumes indicator that comes pre-installed in the MetaTrader 4 terminal by default has been upgraded and improved with BetterVolume 1.5.

So how are these upgraded BetterVolume 1.5 volume-based indicators different from the normal MT4 Volumes?

The BetterVolume 1.5 filters are first given a rougher tuning. The BetterVolume 1.5 splits the tick volume into categories that are painted in different colors while the Volume indicates the rise and fall of ticks.

Second, when the columns of the volume histogram are crossed, the BetterVolume 1.5 indicator plots a moving average that can be used as an extra trading indication.

At that point, the indicator’s tick volumes might be both trading and informational.

Information volumes:

The standard Volume of trading transactions is indicated by blue volumes.

Low trading volumes are indicated by yellow volumes. In these circumstances, it is preferable to avoid buying and selling because a drop in volume can signal traders’ hesitancy and doubt.

Green volumes let you know that traders are becoming more interested. However, when it occurs, it would be smart to avoid trading because the volumes increase as a result of the repositioning of important Forex market participants. It becomes challenging to predict the potential direction of price movement at times like this.

Trading volumes:

Red volumes indicate a boost in customer activity.

As for white volumes, they inform about the increase in the activity of sellers.

In both cases, you can consider buying and selling opportunities. However, we recommend that you make trading decisions considering the main trend and the big market picture to get a higher chance of making a profitable trade.

1. Buy and Sell Strategies with BetterVolume 1.5 Indicator.

As was already stated, it is important to compare the trading indications provided by the indicator to the general trend and mood of the Forex market.

As you can see from the aforementioned example, a rise in buying volumes enables us to look for a Buy entry point.

For this trade, the Stop Loss should be placed below the trend line; when a Sell entry point appears, it is a hint that the position should be closed.

The signal in this instance indicates a rise in selling volumes. The downtrend line acts as an additional indication and raises your chances of a profitable transaction, as demonstrated in the example with buying.

With the help of the market price, you can identify sell entry points and properly position your stop loss beyond the trend line. When a buy signal appears, the sell trade should be closed.

After installing the indicator, you might require assistance to see it visually due to the several colors that the volumes are painted in.

However, volumes divided into trading and informational ones, the indicator’s approximately set filters, and its simplicity of use make up for this tiny drawback and can be useful in your forex trading.