Quasi Volume Bars Indicator

Quasi Volume Bars Indicator

Quasi Volume Bars Indicator For MT4 shows the volume bars in equal length. Best for volume based forex traders to identify bullish and bearish market

The Quasi volume bars indicator for MT4 plots the bars with almost equal volume within a given chart time period. As a result, forex traders can identify any difference in volume pattern in this time period. The resulting volumes reflect the domination of buyers or sellers in the market and helps traders to buy or sell accordingly.

The indicator is suitable for volume based forex traders, so new forex traders should familiarize themselves with volume based strategies. However, advanced forex traders can use this indicator to formulate complex trading strategies. Furthermore, this indicator works best in M1, M5 and M15 chart time frames. So, it is best suitable for scalpers and intraday forex traders.

Quasi Volume Bars Indicator For MT4 Trading Signals

The indicator plots white and red equal length bars on the price chart. The white bars indicate bullish market condition, while the red ones reflect the bearish situation. A best trading strategy is to enter the markets based on the appearance of an opposite bar color.

Once bullish white bars appear traders can enter a buy trade with a stop loss below the previous swing low. The indicator does not provide a profit target, so traders can exit at an opposite trading signal or with a good RR. Similarly, traders can enter sell positions with a stop above the previous swing high if the red bearish bars appear.

Conclusion
In summary, the Quasi volume bars indicator for MT4 is an essential tool for forex traders using trading volumes to identify market direction. In fact, they work effectively for additional confirmation of other technical indicators in technical analysis.