The Price Volume Histogram indicator uses vertical bars to display the amount of volume at different price levels.
How to use this indicator:
– Price levels with peak volume indicate more interest at those price levels. Longer vertical bars should be monitored for possible future support/resistance.
– Price breaking above a peak volume bar indicates strength because there was enough demand to break through resistance (overcome supply)
– Price breaking below a peak volume bar indicates weakness because there was not enough demand to overcome supply
This is a MetaTrader 4 (MT4) indicator and works with all currency pairs and all timeframes. Once you download and install the indicator, it will appear in your trading chart, like the image shown above.
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