Volumezones
So how to use this indicator?
This indicator is based on WMA (black color line) and Volume RSI (blue color line)
There are 3 volume zones based on WMA
1. when it lowest seen in yellow color
2.when highest seen in red color
3. gray color when it not highest or lowest
so how to enter trade:
option 1: the volume went to lowest (yellow ) , so the seller power will be going down by time.. now look on Vrsi if it start to go up and the color change to gray.. then it will be good entry as we expect rise in volume and rise in price
option 2. cross over of WMA above 20 or cross over of VRSI above 30 in the gray area are good buy points
option 3 more danger but in bullish market can work is when WMA cross above 60
sell option:
1. when we enter the red zones (WMA at its peak) , so buyer power go down.. now look on vrsi if it fall and it become gray again exit trade
you can go back to it using option 3 if market is bullish and both vrsi and WMA are going up again
2. lets say you enter by option 1 to trade but force of buyers is weak then the WMA will go down (let say 20 ) and vrsi is going down then escape trade.. the buyers not holding and the sellers are stronger
the code is open so you can add alerts of buy and sell by your own. Also you can add to it other indicators making it much better
have f
This indicator is based on WMA (black color line) and Volume RSI (blue color line)
There are 3 volume zones based on WMA
1. when it lowest seen in yellow color
2.when highest seen in red color
3. gray color when it not highest or lowest
so how to enter trade:
option 1: the volume went to lowest (yellow ) , so the seller power will be going down by time.. now look on Vrsi if it start to go up and the color change to gray.. then it will be good entry as we expect rise in volume and rise in price
option 2. cross over of WMA above 20 or cross over of VRSI above 30 in the gray area are good buy points
option 3 more danger but in bullish market can work is when WMA cross above 60
sell option:
1. when we enter the red zones (WMA at its peak) , so buyer power go down.. now look on vrsi if it fall and it become gray again exit trade
you can go back to it using option 3 if market is bullish and both vrsi and WMA are going up again
2. lets say you enter by option 1 to trade but force of buyers is weak then the WMA will go down (let say 20 ) and vrsi is going down then escape trade.. the buyers not holding and the sellers are stronger
the code is open so you can add alerts of buy and sell by your own. Also you can add to it other indicators making it much better
have f