This video is to show how areas of high volume can act as a great tool for Technical Analysis.
The settings were as follows: - Timeframe 15 minutes - Lookback average (10) equaling 150 minutes - Volume above 250% above the lookback average
What we could see at the start of the video was that there were previous red zones where there had been above 250% down volume.
This was recovered by high up volume creating further green zones that were then recovered.
This is just one of many tool that can assist you with your Technical Analysis.
Where does this leave us, with a potential to sweep the current low to grab the green zone followed by a reversal or price move up to the newly created red zones.
Hi, this is useful. Which particular volume indicator did you use for this? Thank you.
simonkoo9065
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Can sent me the seeting of indicator
Frien_dd-DisDev
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@simonkoo9065, As per opening picture. 15 Minute Time Frame, Volume above 250%, lookback period 10 (150 minutes). Check you invite only scripts and the indicator settings for more information.