SoloTrader’s latest update has been officially released with added functions and features to the Volumes Indicators.
The Volumes indicators is located on the main menu bar of the forex chart under the label ‘Indicators’. It currently carries the following indicator types:
Accumulation Distribution Line
This volumes indicator uses the general consensus of whether the majority of traders are selling or buying. With this, the flow of money is estimated and a pattern could emerge.
Chaikin Money Flow
A straightforward volumes indicator, the Chaikin Money Flow measures the volume of money flowing in a given trading period.
Negative Volume Index
The Negative Volume Index uses volume fluctuations and its frequency to identify whether a smart money is active in the chart.
On Balance Volume
This volumes indicator is named as such because it gauges the balance between the volume of buying and selling in a symbol’s chart.
Positive Volume Index
The Positive Volume Index is used to identify bull and bear markets by charting the days where trading volume sharply increased.
Price and Volume Trend
This volumes indicator makes use of a cumulative line that actively adds and subtracts the multiple percentage change and current volume of a price depending on the trend (uptrend or downtrend). It does this to connect the price and volume of a symbol.
Volume Rate of Change
The Volume Rate of Change is a volumes indicator that identifies the possible price movement and divergences by measuring the rate of change of the volume over a period of time.
Using the volume of trades to analyze possible price movements is an effective way of implementing trading strategies. As an aspect of technical analysis, volumes can efficiently identify trends and graph patterns if used correctly.
This update is now live for both the SoloTrader trading platform and trading terminal. Check out the updated Volumes indicators now.