The Vertex MT4 indicator is a volume based forex trading indicator. It signals the trader if the buying or selling volume increases significantly. As a result, traders can look for forex trend reversal trading signals and confirm them with volume. This indicator is a leading indicator as it helps traders to identify the potential trend reversals in advance.
Features of Vertex MT4 Indicator
The indicator plots a histogram with values between 0 and 1.1. A reading of 1.1 indicates the presence significant volume in the market. The presence of buy volume is marked by blue histogram, while the red histogram bars indicate the presence of seller volume.
In a downtrend, traders can identify if buyers are entering the market by watching the histogram bars. If the blue histogram bars reach a value of 1.1, then it signals a potential trend reversal. So traders can look for buying opportunities as there is enough buying volume to push the price upwards.
Similarly, in an uptrend if the red histogram bars reach 1.1 levels it indicates the presence of significant selling volume. As a result, traders can look for short positions as the seller’s volume can potentially begin a new downtrend.
Benefits of Vertex MT4 Indicator
There is only a handful of leading indicators in the forex market against a plethora of lagging indicators. However, the Vertex MetaTrader indicator is a leading indicator. Another major benefit of this indicator is the use of volume to identify potential trend reversals.
This indicator is an excellent tool for confirmation of overbought or oversold trading signals. So, traders will benefit from profitable forex trading signals while trading in confluence with other technical indicators.
Traders should note that, it provides better trading results above the H1 price chart and may not be suitable for scalpers.
Indicator Settings Description
TrendPeriod:, ForcePeriod: Period for indicator calculation.
LineValue: Value to plot indicator level line.
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