What are the best volume indicators for analyzing cryptocurrency trading on MT4?

3 answers

• Dec 27, 2021 · 3 years ago
  One of the best volume indicators for analyzing cryptocurrency trading on MT4 is the Volume Weighted Average Price (VWAP) indicator. VWAP takes into account both volume and price, providing a weighted average price that can help identify significant price levels and potential support or resistance zones. By comparing the current price to the VWAP, traders can gauge whether the current price is overbought or oversold. This indicator is particularly useful for intraday trading strategies.
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• Dec 27, 2021 · 3 years ago
  Another useful volume indicator for analyzing cryptocurrency trading on MT4 is the On-Balance Volume (OBV) indicator. OBV measures the cumulative volume flow based on price movements. It can help identify periods of accumulation or distribution, indicating whether buyers or sellers are in control. Traders can look for divergences between the OBV and price to spot potential trend reversals. OBV is a popular indicator among technical analysts and can be used in various trading strategies.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using the Money Flow Index (MFI) as a volume indicator for analyzing cryptocurrency trading on MT4. MFI combines both price and volume to measure the buying and selling pressure in the market. It oscillates between 0 and 100, with overbought and oversold levels marked at 80 and 20, respectively. Traders can use MFI to identify potential trend reversals and confirm the strength of a price move. It is a versatile indicator that can be applied to different timeframes and trading styles.
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