Forex Intraday Volume Trading System Indicator

January 17, 2009 by hyiperz 

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works for all brokers and for all pairs.
How this indicator works:
1) Attach to any chart
2) On top left corner, you will see:
i) BMC Max Price: xxx with volume: yyy (Price level accumulated with most volume(buy and sell))
ii) BMC Buy Price: xxx with volume: yyy (Price level accumulated with most buy volume)
iii) BMC Sell Price: xxx with volume: yyy (Price level accumulated with most sell volume)

You just watch for the price level changes and action according. This indicator will have improvements as times go on.

Attached is the result of trading GBPJPY with IBFX with customized Volume Analysis Indicator.

Here is the table of values I summarized throughout the day.
Time(GMT) Max Total Vol Max Buy Vol Max Sell Vol
04:23 133.04 133.03 133.05
05:23 133.50 133.50 133.51
09:23 133.54 133.54 133.56
12:23 135.27 133.54 133.56
14:23 135.20 135.20 135.21
15:23 135.20 135.20 135.21

1) As we can see the price is moving from 0000GMT and accumlated some volume in 133.03/05 level and price advance to 133.50.
2) Price move to 133.50 and accumulated enough buy volume (131 for buy and 80 for sell ) and price jumps about 90 pips and retest the same level and rebound for another 200pips.
3) Price consolidates at around 135.21 level and starts accumulate volumes and @14:50GMT, 135.21 accumulates enough SELL volumes and price sink like no look back for 300pips.

Total of 500pips intraday with volume analysis. No other indicator is using.

Forex Intraday Trading System Indicator

Trading System Indicator

Creator of : EAProgrammer

Download This Forex Trading Indicator

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