Future Volume Indicator

Future Volume Indicator

Future Volume Indicator For MT4 provide arrow-based buy and sell forex trading signal based on overbought and oversold trading volumes.

The future volume indicator for MT4 provides forex trading signals based on the overbought and oversold condition of the trading volumes. However, the unique feature of this indicator is the possibility to customize the indicator to receive trading signal in a sideways market, trending market or both.

The indicator provides a simple arrow based buy and sells forex trading signals with a histogram. It is easy to interpret and works best for new and advanced forex traders. However, traders should choose the input settings carefully according to the market condition.

Future Volume Indicator For MT4 Trading Signals

The above EURUSD H1 candlestick price chart shows the Future Volume indicator for MT4 in action. The indicator plots red and blue arrow signals on price chart for sell and buy trading signals. Additionally, the histogram plots red and blue bars to indicate the same trading signals.

However, the indicator plots a blue up arrow if the trading volume is oversold. On the other hand, it provides a red down arrow if the trading volume is overbought.

Traders should enable Volume index and Filter1 to receive trading signals in a choppy market. Similarly, Filter2, Filter3 and Filter4 provide trend signals. According to the market condition forex traders should enable the filters. However, enabling all filters will provide trading signals on both sideways and trending markets.

Conclusion
In summary, the Future volume indicator for MT4 looks the overbought and oversold condition of the market from trading volume perspective. Though this approach is not available in many technical indicators, it produces better trading signals.