This indicator shows where it is time to follow the increased volume and when we have exhausted volume. It's believed that volume is a great indicator that can predict trends and turning points, indeed I agree to 100 %.
EURUSD has previously had an exhausting volume (SOLID RED CANDLESTICKS) which was a great sign that all sellers were done. Now we have a volume expansion (SOLID YELLOW CANDLESTICKS) which indicates that buyers dominate the market.
EURUSD - can have set a temporary bottom and a positive trend might be in place soon. Use trend indicators to confirm when a positive trend is in place.
However, expansion in volume without further buyers is a negative sign. So be aware that confirmation is needed before consider enter long. And supply/demand zoon/levels are always important to consider before any entry in the market!
If you are interested in the script please reach out to me. I might publish it if enough people find it useful.
I hope you find this Idea insightful, please comment if you have any questions.
----------------------- The information contained in this idea does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Only for education purposes! -----------------------
I would be interested in the indicator, possibly initially free for testing. Modified Weis Wave or BetterVolume ( simplified or ON the chart would be good as well. Thank you for the truly unique ideas !
Nikolay_GV
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Hello! Thanks for the indicator! Where to find him? I can not find...
Zeiierman
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@Nikolay_GV, Hi Nikolay, I'm glad that you find this indicator useful! I haven't released the indicator yet! Stay Tuned!