The RVOL Forex Software is a potent tool for traders seeking to optimize their strategies using volume analysis. This software provides a unique advantage by allowing users to gauge the commitment behind a move accurately. The strength of a breakout from a range or the penetration of a significant level can be evaluated based on the volume supporting the move. This RVOL Review will delve deeper into the software’s features and how it enhances trading.
Understanding the RVOL Indicator
The RVOL indicator averages the volume of a specified number of days, making it easier for traders to compare session volumes. It employs a simple color-coded system that represents different volume levels. Green signifies above-average volume, yellow indicates average volume, and red represents below-average volume. The default setting averages volumes over 20 days, approximately corresponding to a month of trading.
Real and Tick Volumes
One of the key features of the RVOL Forex Software is its flexibility in choosing between tick and real volumes. This is particularly useful for traders using a broker offering future contracts. The data procured from this indicator can help better gauge the force of an impulsive move and its pullback.
Usage and Interpretation
Using the RVOL Forex Software is straightforward, but it requires a sufficient historical data for accurate volume analysis. If the histogram starts to look strange when scrolling back to the past, it indicates a need for more historical data. To resolve this, the user needs to scroll back as far as they can and then reload the timeframe. The histogram will then recalculate based on the newly loaded data.
Enhancing Forex Market Analysis
Forex market analysis can be significantly enhanced using RVOL Forex Software. The color-coded histogram provides a quick and easy way to identify above-average, average, and below-average trading volumes. This can help traders predict market trends and make better investment decisions.
Final Thoughts
The RVOL Forex Software is a highly effective Forex Trading Tool. It simplifies volume analysis, making it easier for traders to interpret market trends and enhance their trading strategies. It’s also worth noting that independent testing of this product is available on the forexroboteasy.com website. Users can also subscribe to updates on the testing results of this product.
FAQ Section
Q: How does the RVOL Forex Software work?
A: The RVOL software averages the volume of a specified number of days. Its color-coded histogram provides a quick glance at whether the trading volume is above, average, or below average.
Q: Can I choose between real and tick volumes?
A: Yes, the RVOL Forex Software allows users to choose between tick and real volumes, especially beneficial for those using brokers offering future contracts.
Q: What should I do if the histogram looks strange?
A: If the histogram looks off, it indicates a need for more historical data. You need to scroll back as far as possible and then reload the timeframe. The histogram will then recalculate based on the newly loaded data.
We invite you to share your experience of using the RVOL Forex Software. Your insights could be of great help to other users. Remember, this is an independent product review, and your unbiased opinions are valuable.
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