What is the best volume indicator for trading digital currencies on TradingView?

5 answers

• Dec 17, 2021 · 3 years ago
  One of the best volume indicators for trading digital currencies on TradingView is the Volume Profile indicator. This indicator displays the volume traded at each price level over a specified period of time. It can help you identify key support and resistance levels, as well as areas of high trading activity. By analyzing the volume profile, you can gain a better understanding of market sentiment and make more informed trading decisions.
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• Dec 17, 2021 · 3 years ago
  In my experience, the Money Flow Index (MFI) is a reliable volume indicator for trading digital currencies on TradingView. The MFI takes into account both price and volume to measure the buying and selling pressure in the market. It ranges from 0 to 100 and can help identify overbought and oversold conditions. When the MFI is above 80, it indicates overbought conditions, while a reading below 20 suggests oversold conditions. This can be a useful tool for timing your trades and identifying potential reversals.
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• Dec 17, 2021 · 3 years ago
  Based on my research, the best volume indicator for trading digital currencies on TradingView is the Volume Weighted Average Price (VWAP). VWAP calculates the average price weighted by volume over a specified period of time. It is commonly used by institutional traders to determine the average price at which a particular asset has been traded throughout the day. By comparing the current price to the VWAP, you can gauge whether the current price is overvalued or undervalued. This can help you make more accurate trading decisions.
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• Dec 17, 2021 · 3 years ago
  As an expert in the field, I would recommend using the On-Balance Volume (OBV) indicator for trading digital currencies on TradingView. OBV measures the cumulative buying and selling pressure based on the volume flow. It can help you identify trends and confirm price movements. When the OBV is rising, it suggests that buying pressure is increasing, which could indicate a bullish trend. Conversely, when the OBV is falling, it suggests that selling pressure is increasing, which could indicate a bearish trend. This indicator can be a valuable tool in your trading arsenal.
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• Dec 17, 2021 · 3 years ago
  When it comes to volume indicators for trading digital currencies on TradingView, the BYDFi team suggests using the Accumulation/Distribution Line (ADL). This indicator takes into account both price and volume to assess the strength of price movements. It can help you identify potential trend reversals and confirm the validity of price breakouts. The ADL is calculated by adding the volume on up days and subtracting the volume on down days. A rising ADL suggests buying pressure, while a falling ADL suggests selling pressure. Give it a try and see if it works for you!
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