The Volume Spike indicator is a useful tool to identify the directional market's intention.
How Does It Work:
The Volume Spike indicator identifies the volume peaks and creates a sensitive rectangle equipped with Alert and Warning Pop Up that it suggests the market's direction.
This tool has the ability to select the time frame on which to do the analysis of volume and it gives a great visual signal colored into rectangle.
The indicator can identify valid market signals but it can also suggest excellent points of support and resistance.
Please watch the video to get a general idea of how it works.
- TimeFrame Period on which the indicator will perform the analysis
- Rectangle Graphic Setup (as Color, Line Styles, Width...)
- Sound and Popup Setup (ON/OFF, wav)
You can choose another wav for Sound (Save your sound under MT4 Sounds directory) and write it in the Sound parameter
You can upload more Indi on same chart.