Volume often goes unnoticed as a significant market factor within technical analysis. However, mastering its analysis and interpretation enables you to detect the emergence of market turning points and predict retracements and shifts in trends.

The Better Volume 1.5 Indicator enhances the conventional volume histogram by applying color to bars according to five criteria:

Below, I will illustrate the features of the Better Volume 1.5 Indicator for MT4

The indicator provides clear trade entry signals. For instance, the volume climax marks long entry positions, while the volume climax down indicates short entry positions.

You can incorporate highly elaborate information on the market volume in your analysis.  You can better understand the market and how best to capitalize on the changes in volume.

Number of Bars: Choose the number of bars.

Note: 0 means display all bars.

MA Period: Choose the MA period.

Look back: Choose the look back.

Width 1: Choose the width 1.

Ahi: Decide if you want alerts on color changes.

Alert on color change: Turn the alert on color changes on or off.

Ahi 1: Decide if you want to ignore some color changes.

Ignore light sea green: Turn on or off.

Ignore white: Turn on or off.

Ignore firebrick: Turn on or off.

Ignore dodger blue: Turn on or off.

Ignore light salmon: Turn on or off.

Ignore magenta: Turn on or off.

Ahi 2: Decide if you want alerts on MA crossings.

Alerts on MA cross: Turn on or off.

Ahi3: Choose alert methods.

Alert on candle shift: Choose a candle shift value.

Popup alerts: Turn on or off.

Email alerts: Turn on or off.

Push notification alerts: Turn on or off.

Sound alerts: Turn on or off.

Soundfile: Name the soundfile.

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