Better Volume 1.5 MT4 Forex Indicator Free Download

Trading volumes are essential in financial markets since they can explain traders’ sentiments and predict their possible behavior. If you use them, you can also make a profitable trading decision or stay out of the market, knowing that it’s better to wait out the periods of strong volume changes. It’s precisely for those purposes that the Better Volume 1.5 indicator was developed. You can check it out in this article.

Contents:

1. Description

2. Features

3. Buy and Sell strategies

4. Settings

1. Description Better Volume 1.5

The BetterVolume 1.5 indicator analyzes the activity of Forex market participants and draws a histogram showing the volumes of trading transactions.

Volume is the amount sold or purchased lots (contracts or stock) over a certain period.

One cannot calculate the number of open lots in the Forex market due to a special approach to trading, so traders use the notion of tick volumes instead. The tick volume reflects the total price changes over a particular time interval.

The BetterVolume 1.5 indicator is helpful in that it differentiates the activity of traders accurately enough by the number of completed transactions at different points in time. Therefore, you have the opportunity to understand the motives behind the activity of Forex market participants and use it to develop your trading system, depending on the trading volume.

1. Features Better Volume 1.5 Indicator

BetterVolume 1.5 is an updated and advanced version of the Volumes indicator built-in MetaTrader 4 terminal by default.

Then, in what way these standard MT4 Volumes and updated BetterVolume 1.5 volume-based indicators are different?

First, the BetterVolume 1.5 filters are more roughly tuned. The Volume displays the rise and fall of ticks, while the BetterVolume 1.5 divides the tick volume into categories painted in various colors.

Second, the BetterVolume 1.5 indicator plots a moving average you can use as an additional trading signal when it crosses columns of the volume histogram.

At that, tick volumes of the indicator can be trading and information ones.

Information volumes:

Blue volumes indicate the standard Volume of trading transactions.

Yellow volumes indicate low trading volumes. It’s better to refrain from buying and selling in such situations since a volume fall could mean uncertainty and wariness among Forex market participants.

Green volumes inform you about the increased interest on the part of traders. However, when it happens, it would be wise to refrain from trading because the volumes rise due to the repositioning of major participants in the Forex market. At times like this, it gets difficult to determine the possible direction of price movement.

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 mentioned above, the indicator’s trading signals should be weighed against the overall sentiments in the Forex market and the prevailing trend.

As you can see in the example above, an increase in the buying volumes allows us to search for a Buy entry point.

Stop Loss for this trade should be set below the trend line; when a Sell entry point occurs, it serves as a signal to close a position.

In this case, the indicator points to an increase in selling volumes. As shown in the example with buying, the downtrend line serves as an additional signal and increases your chances of a successful trade.

You can spot Sell entry points with the market price and place your Stop Loss safely beyond the trend line. Sell trade should be closed when a reverse signal (Buy) occurs.

Having installed the indicator, you may need help to perceive it visually because of the large number of colors in which the volumes are painted.

However, volumes split into information and trading ones, and roughly tuned filters of the indicator and its ease-of-use compensate for this minor disadvantage and can be helpful in your Forex trading.

Better Volume 1.5 MT4 Forex Indicator Free Download

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