How does VPVR on TradingView help identify key support and resistance levels in cryptocurrency trading?

1 answers

• Dec 26, 2021 · 3 years ago
  VPVR on TradingView is a popular tool used by cryptocurrency traders to identify key support and resistance levels. It analyzes the volume traded at different price levels and displays it as a histogram on the price chart. When the VPVR histogram shows high volume at a specific price level, it indicates that there is a significant amount of trading activity at that level. This suggests that there are many buyers or sellers at that price, which can create strong support or resistance. Traders can use this information to make more informed decisions about when to buy or sell cryptocurrencies. By identifying these key levels, traders can set their stop-loss orders or take-profit targets more effectively, improving their overall trading performance.
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