Iron Cortex: Volume Analysis
Description:
This Volume Analysis indicator is designed to identify potential buying and selling pressures in the market by analysing volume and price changes in conjunction with dual Exponential Moving Averages (EMAs).
Signal Identification:
Buying Pressure: This signal is identified when:
i) Volume is rising and the price is increasing.
ii) The current volume is above both the fast and slow EMAs of the volume.
iii) The fast EMA is above the slow EMA.
Selling Pressure: This signal is identified when:
i) Volume is rising and the price is decreasing.
ii) The current volume is above both the fast and slow EMAs of the volume.
iii) The fast EMA is above the slow EMA.
Interpretation:
When the volume bars change to the specified colours, it indicates potential buying or selling pressure based on the underlying conditions. Teal is buying pressure, red is selling pressure.
Use this information in conjunction with other technical analysis tools to make informed trading decisions. As with all indicators, expect some false signals in choppy markets.
This indicator is useful for traders who want to incorporate volume analysis with price trends and EMA crossovers to identify strong market movements. Adjust the settings to fit your trading strategy and enhance your market analysis.
This Volume Analysis indicator is designed to identify potential buying and selling pressures in the market by analysing volume and price changes in conjunction with dual Exponential Moving Averages (EMAs).
Signal Identification:
Buying Pressure: This signal is identified when:
i) Volume is rising and the price is increasing.
ii) The current volume is above both the fast and slow EMAs of the volume.
iii) The fast EMA is above the slow EMA.
Selling Pressure: This signal is identified when:
i) Volume is rising and the price is decreasing.
ii) The current volume is above both the fast and slow EMAs of the volume.
iii) The fast EMA is above the slow EMA.
Interpretation:
When the volume bars change to the specified colours, it indicates potential buying or selling pressure based on the underlying conditions. Teal is buying pressure, red is selling pressure.
Use this information in conjunction with other technical analysis tools to make informed trading decisions. As with all indicators, expect some false signals in choppy markets.
This indicator is useful for traders who want to incorporate volume analysis with price trends and EMA crossovers to identify strong market movements. Adjust the settings to fit your trading strategy and enhance your market analysis.