TT Volume Indicator

13 mars 2022

The idea with our Volume Indicator is to base price off of the current and previous close of the Heikin Ashi bars, as well as adding Moving Averages (MA) to get a better idea of how strong the current trend is.

The Blue trendline works similarly to the Blue trendline on the TT Price/Trend Indicator. Ideally a cross above or below will signify a trend change in terms of volume. However, the grey baseline must be crossed as well. This is just 1 of 2 conditions.

The Orange trendline is your mid term moving average. A break through or retest on this trendline will give you more information on the strength of the trend, just like when price crosses above/below a standard MA, for example.

Likewise, the Green trendline is your long term moving average. A break through or retest on this trendline will give you more information on the strength of the trend - except since it's a long term moving average - there will be a higher chance of a continued movement in this direction.



Strategy:


If you are looking to LONG/BUY, you have the BEST chance of success if:

A) We are currently above the grey midline
B) We are currently above the blue trendline

D) Great if the Grey baseline is retested and Green Volume rises
E) (Even better, but not as common) We are above the Orange and/or Green Moving Averages (MA)



If you are looking to SHORT/SELL, you have the BEST chance of success if:

A) We are currently below the grey midline
B) We are currently below the blue trendline
C) Price is moving higher, but Volume is not pushing upwards with strong momentum

D) Great if the Grey baseline is retested and Red Volume drops
E) (Even better, but not as common) We are below the Orange and/or Green Moving Averages (MA)




However, these are just guidelines, quite often the main objective is to compare it with the TT Price/Trend Indicator to determine whether or not Volume is matching price - this can help you identify Volume Divergences, which cannot be seen in common indicators such as the RSI, MFI & MAC-D.

Best Strategy:

Use the TT Volume indicator with the TT Price/Trend Indicator & RSI with 14 SMA to determine;

- Price Trends
- Volume Trends & Volume Strength
- Volume Indicator for Volume Divergences
- RSI breakouts or retests above/under 14 SMA
- RSI for Divergences

Any questions? Drop me a DM and I will explain further.

12 juil. 2022

Notes de version

Added purple EMA200 for Volume - Please add an EMA200 to your Price chart (if you want, purple)

Then what you want to do sometimes is (especially when scalping) wait until price and volume is above or below EMA200 and set your orders accordingly (this can act as another confirmation)

Here is an example: (see white box)