Volume RV MTF Indicator

Volume RV MTF Indicator is a good fit for trend-following and breakout traders from a technical standpoint. It can be used to forecast trading opportunities for any financial asset, such as currency pairs, equities, commodities, cryptocurrencies, and so on. It also performs in all timeframes.

What is the Volume RV MTF Indicator?

Volume RV TF Indicator is a trend-following forex trading indicator that can closely monitor market movements and hunt for potential trade opportunities inside the trend directions. This indicator is very simple to use and easy to master for inexperienced traders. The Volume RV MTF Indicator can be used to trade all types of forex currency pairs in the financial markets.

Setting up the Volume RV MTF Indicator
Setting up the Volume RV MTF Indicator

Volume RV MTF Strategy

Volume RV MTF Indicator plots trend indications in a separate oscillator window. It also confirms trade signals using signal arrows in the main chart window. Volume RV MTF bars turning positive with an upward arrow beneath the price bar is seen as a buy signal with confirmation of the bullish trend. Volume RV MTF bars should be turned negative for sell entry, and the signal arrow should be above the price bars at the same time. Before validating any market entry, you may want to wait until both the signal arrows and volume bar signals are synchronized.

Buy Signal

The following could be your checklist for a buy trade:

  • When the indicator bars turn positive.
  • When an upward signal arrow appears below the candlesticks.

Once these events occur:


  • You could open a buy position after you confirm your entry with bullish candlestick patterns.
  • You could set your stop loss just below the nearest swing low.
  • You could set your take profit at the nearest resistance zone, or you could exit trade when a downward signal arrow appears above the candlesticks.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Volume RV MTF Indicator Buy Setup
Volume RV MTF Indicator Buy Setup

Sell Signal

The following could be your checklist for a sell trade:

  • When the indicator bars turn negative.
  • When a downward signal arrow appears above the candlesticks.

Once these events occur:

  • You could open a sell position after you confirm your entry with bearish candlestick patterns.
  • You could set your stop loss just above the nearest swing high.
  • You could set your take profit at the nearest support zone, or you could exit trade when an upward signal arrow appears below the candlesticks.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Volume RV MTF Indicator Sell Setup
Volume RV MTF Indicator Sell Setup

Volume RV MTF Pros & Cons

Pros

  • The Volume RV MTF Indicator may assist in identifying trend reversal setups and potential price breakout levels.
  • Traders may be able to use this indicator to identify potential support and resistance zones.

Cons

  • The Volume RV MTF Indicator may not meet the trader’s expectations in a narrow-ranging market on smaller timeframes.
  • This indicator may require some knowledge of price action to utilize optimally.

Conclusion

The Volume RV MTF Indicator is a trend-following indicator which uses arrows to predict the direction of the trend so that traders could follow accordingly. This forex indicator may be beneficial to traders who prefer trending markets; however, the trader should keep in mind the importance of maintaining realistic expectations as this indicator may produce false signals sometimes. Its performance will be highly variable depending on market conditions.

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