I agree with Ian that extreme price limits of support / resistance have less volume recorded than the prior 1-3 bars coz thats where majority have entered , and the majority is going to be wrong if the trend ATM (at the moment)is perceived to be a trading range.
The only problem is the volume (tick volume) in MT4 is unreliable. It does not represent the centralized tick volume, it is rather based on the trading activities of your broker's books. I compared 3-4 platforms and their volume was dangerously different varying in several occasions 4 times between 2 of them. Hard to trust it if you see it this way.
Therefore all volume based indicators that are available in MT4 have to be treated with grain of scepticizm. Only as supporting material not deccison driving. IMHO
Hi everyone,could anyone give me an info on how to measure a strenght of currency per time.
I was in deep discussion with a trader friend before NFP news and this idea of knowing the best pair to trade with the news came and i quickly remember what my trainer once told me about strenght we quickly did a small analysis on pairing and it works but I believe if there is any better info on this it could help any trader on this forum to add to their trading skills.
Pls take note I am a newbie and if any previous discussion had been made on this you can redirect me to the link.
Anyone got an indicator for calculating fair value for index futures or forex futures?
Market profile value area?
Been searching around this site & others for an indicator for MT4 which displays the value area for maket profile. Found a few indicators whch show the full market profile but are there any with this extra feature?
moved your post to market profile thread.
read the hand book i know this is not the right indicator
because market profile divide hours in 30 minutes part A B C D E F G etc
but give a look here i think yellow zone are scalpers blue are trend followers and red are long trend term traders because i ve noticed this day
this morning the range was blue and after 2 pm has start the red range more wide
What handbook are you talking about?
Is it something you can upload or post a link to.
I like to suggest everybody interested on MP to read appendix b of Murphy's book Technical Analysis of the Financial Markets.
Dear Tro & All, Here Is Link To Handbook
please searh for handbook.