Introduction
volume delta indicator is an mt4 indicator that draws market volume bars in an additional window.
The volume bars show the market activity during each market session, and it helps to make good decisions while trading forex and stocks.
Other volume indicators are available in the market that shows the volume bars, but it displays in candle bars and three different colours.
Working of volume delta indicator in mt4
The volume delta indicator displays volume in red, green, and white colour candles. The green colour shows the bullish trend, whereas the red shows the bearish trend.
When a green volume candle forms, buyers are stronger than sellers, increasing the price with time.
On the other hand, when a red volume candle will form, sellers control the price decreases.
Trading signal
This volume delta indicator generates buy or sell signals. You can also add alerts with this indicator.
Buy signal
Open a buy order when a green volume candle forms in the indicator’s window in MetaTrader 4. Hold the position until two opposite-colored volume candles do not form on the chart.
You can also wait for a pin bar or engulfing candlestick pattern and then entry on the colour of the volume bar.
Sell signal
Open a sell order when a red volume candle forms. Hold the position until two opposite colour volume bars do not form.
Or use this price action strategy.
Open a sell order when a bearish pin bar and a red volume bar form simultaneously. Place stop loss above the high of the candlestick and hold the trade until two opposite colour volume candles do not form.
The bottom line
Volume delta indicator helps retail traders to forecast the market accurately. It is recommended to add other technical analysis tools with this indicator to increase the probability of winning.
indicator pls.