Forex Intrday Volume Trading System
First of all, I would like to thank Alex_S for inspiring me to write a volume analysis indicator post specifically for Forex spot using intraday volume.
Please do not post any other files (ea/indicator) to this thread as you want to keep it clean. All updated EAs/Indicators will be posted in Post #1.
This indicator is available on all brokers and on all currency pairs.
How this indicator works:
1) Attach to any chart
2) In the upper left corner you will see:
i) BMC highest price: xxx, trading volume: yyy (the price level at which the maximum trading volume accumulates (buy and sell))
ii) BMC buying price: xxx trading volume: yyy (the cumulative price level of the maximum buying volume)
iii) BMC sales price: xxx, quantity: yyy (the cumulative price level of the maximum sales volume)
You just need to pay attention to changes in price levels and act accordingly. Over time, this metric will improve.
Disclaimer: Alerts provided by indicators do not necessarily represent actual market movements. Follow the advice at your own risk. The author of the indicator is not responsible for any gains/losses resulting from alert signals.
Attached are the results of trading GBPJPY with IBFX using a custom volume analysis indicator.
Here’s a list of values I summarized throughout the day.
Time (GMT) Maximum Total Capacity Maximum Buy Volume Maximum Sell Volume
04:23 133.04 133.03 133.05
05:23 133.50 133.50 133.51
09:23 133.54 133.54 133.56
12:23 135.27 133.54 133.56
14:23 135.20 135.20 135.21
15:23 135.20 135.20 135.21
1) As we can see, the price started moving from 0000GMT and accumulated some volume at the 133.03/05 level, with the price rising to 133.50.
2) The price moved to 133.50 and sufficient buying volume accumulated (131 to buy, 80 to sell), the price moved up about 90 points and retested the same level and bounced another 200 points.
3) The price consolidated around the 135.21 level and started to accumulate volume, and at 14:50 GMT, 135.21 had accumulated enough selling volume to push the price down by 300 points.
Intraday total of 500 points, with volume analysis. No other indicators were used.
Please do not post any other files (ea/indicator) to this thread as you want to keep it clean. All updated EAs/Indicators will be posted in Post #1.
This indicator is available on all brokers and on all currency pairs.
How this indicator works:
1) Attach to any chart
2) In the upper left corner you will see:
i) BMC highest price: xxx, trading volume: yyy (the price level at which the maximum trading volume accumulates (buy and sell))
ii) BMC buying price: xxx trading volume: yyy (the cumulative price level of the maximum buying volume)
iii) BMC sales price: xxx, quantity: yyy (the cumulative price level of the maximum sales volume)
You just need to pay attention to changes in price levels and act accordingly. Over time, this metric will improve.
Disclaimer: Alerts provided by indicators do not necessarily represent actual market movements. Follow the advice at your own risk. The author of the indicator is not responsible for any gains/losses resulting from alert signals.
Attached are the results of trading GBPJPY with IBFX using a custom volume analysis indicator.
Here’s a list of values I summarized throughout the day.
Time (GMT) Maximum Total Capacity Maximum Buy Volume Maximum Sell Volume
04:23 133.04 133.03 133.05
05:23 133.50 133.50 133.51
09:23 133.54 133.54 133.56
12:23 135.27 133.54 133.56
14:23 135.20 135.20 135.21
15:23 135.20 135.20 135.21
1) As we can see, the price started moving from 0000GMT and accumulated some volume at the 133.03/05 level, with the price rising to 133.50.
2) The price moved to 133.50 and sufficient buying volume accumulated (131 to buy, 80 to sell), the price moved up about 90 points and retested the same level and bounced another 200 points.
3) The price consolidated around the 135.21 level and started to accumulate volume, and at 14:50 GMT, 135.21 had accumulated enough selling volume to push the price down by 300 points.
Intraday total of 500 points, with volume analysis. No other indicators were used.
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