As the name implies, the Better Volume Forex indicator measures and displays market volume.
You can find great winning trades with it on any time frame!
Volume appears in the form of colored bars in a sub MT4 window underneath the main trading chart.
Key Takeaways
- A large Better Volume bar represents big market volume.
- A short Better Volume bar represents low market volume.
- Can be used to trade powerful price action breakouts.
- Works for any currency pair (majors and minors).
Learn below how to open buy and sell trades with the Better Volume MT4 indicator.
Free Download
Download the “BetterVolume 1.5a Alerts mod.ex4” Metatrader 4 indicator
Indicator Example Chart
Here’s an example (AUD/CHF H1 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Better Volume Forex MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Wait for a large green colored Better Volume bar to appear on the chart. The underlying trend must be upward. Enter a long trade in this case (see chart above).
Place stop loss 3 pips below support, or use your own favorite SL method.
Close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Trigger: Wait for a large lightsalmon colored Better Volume bar to appear on the chart. The underlying trend must be downward. Enter a short trade in this case.
Place stop loss 3 pips above resistance, or use your own favorite SL method.
Close the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator
Download the “BetterVolume 1.5a Alerts mod.ex4” MT4 indicator
Adjustable Parameters & Settings
Number of bars, MA period, look back, alerts, color, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Usage
The indicator can’t be deployed as a standalone trading system or strategy.
Combine the Better Volume indicator with simple trend indicators (moving averages, ADMI,..) to confirm the underlying buy or sell trend.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: volume
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
