Volume Profile Indicator
Volume Profile Indicator for MT5 with vpoc, best Forex volume indicator for chart analysis, flexible and suitable for all types of traders
- Trading volume is an important parameter that most Forex traders often overlook during technical analysis. Because trading activity with increased volumes is often associated with price reversals, forex traders consider these areas to be important. Volume Profile
- Indicator for MT5 provides forex traders with low and high volumes as well as VPOC volume control point.
- VPOC or POC is considered an important support or resistance area where trading volumes peak. As a result, the market is likely to turn into the VPOC zone.
Volume Profile Indicator Trading opportunities
In the GBPUSD example above, the H1 price chart reversed into VPOC and continued to move in the direction of the trend through areas of low volume as the indicator plotted volume levels to create a volume profile.
- This, it helped the forex trader to identify potential reversal areas. Additionally, the volume control point, VPOC or POC, acted as a pivot point and proved to be an excellent support or resistance area.
- Once VPOC or POC areas are identified, they become points of future support and resistance where markets often retest them. As a result, repeated testing in these areas provides additional entry points. On the other hand, the volume control point provides an excellent exit point for taking profits in the form of VPOC. Along with VPOC, the high volume zone also acts as a potential exit point.
Traders often combine VPOC with TPO (Time Price Opportunities) to create a complete market profile. Since the volume profile indicator displays visual lines and bars, it is useful for all types of online Forex traders. Additionally, the indicator is free to use, easy to download, and works on any chart timeframe. However, forex traders should confirm the indicator signals with price action to achieve the best trading results.
Output:
- The Volume Profile Indicator for MT5 provides forex day traders with a complete snapshot of volumes. However, the volume profile combined with TPO helps the forex trader to analyze the market profile. In short, the volume control point, VPOC, also known as POC, provides visual clues about potential market reversal zones on charts. Overall, this indicator offers excellent trading opportunities.
