Volume Divergence Markers Indicator

Volume Divergence Markers Indicator

Volume Divergence Markers indicator for MT4 Best forex trading signals using divergence and convergence of bar size and volume.

The Volume Divergence Markers indicator for MT4 measures the volume and size of the bars to identify a convergence or divergence between them. A convergence indicates that the volume and size of the bar are moving in the same direction. However, a divergence indicates that when one parameter is moving higher the other one is moving lower. As a result, forex traders can anticipate a BULLISH or BEARISH price reversal and place BUY or SELL trade accordingly.

The indicator works well for new and advanced forex traders applying volume-based technical trading strategies. Furthermore, forex traders can apply the indicator in all intraday and daily, weekly, and monthly price charts. Additionally, the indicator is free to download and easy to install.

Volume Divergence Markers Indicator For MT4 Convergence Trading Setup

The above GBPUSD M30 chart shows the Volume Divergence Markers indicator for MT4 in action. The indicator draws the markers in RoyalBlue on the price chart.

The convergence marker indicates that the price and the volume are increasing or decreasing together. In this case, forex traders should consider the marker as a continuation trading signal. As a result, the indicator indicates the current BULLISH or BEARISH price trend may continue in the same direction. So forex technical traders should place a BUY or SELL trade accordingly. Moreover, traders can hold the current open position.

Volume Divergence Markers Indicator For MT4 Divergence Trading Setup

The above GBPUSD M30 chart shows the indicator with markers displaying only the Divergences. In this case, the marker is considered by traders as a reversal signal. As a result, the current BULLISH or BEARISH trend may reverse as the volume and the size of the bars move in the opposite direction. So traders can anticipate a reversal and trend direction and place a BUY or SELL trade accordingly.

The indicator relates to the volume and the size of the bar, but cannot be used as a standalone indicator or applied as an independent forex trading strategy. The indicator is not able to detect market direction or provide a take profit or stop loss target. As a result, forex traders must use other technical indicators and price action to confirm this indicator.

Conclusion
The Volume Divergence Markers indicator for MT4 provides the trader with any divergence or convergence in volume and size of the bar. As a result, forex traders can apply the indicator to trade volume-based forex trading strategies. Moreover, forex traders can download the indicator for free and install it with ease.