Volume Profile FR is a free forex software tool that provides a unique way to analyze the forex market. It uses volume as a fundamental parameter in its analysis, offering a better understanding of price levels in the market. This software tool, which is free on the EURCAD chart, has unlimited features available for download.
Understanding the Volume Profile FR
Unlike typical volume indicators that work on a time axis, Volume Profile FR calculates volume in price levels, making it possible to identify crucial areas with potential to reverse. This advanced feature allows traders to view the volume of support and resistance levels and make decisions based on this information.
Combining the use of volume profiles with Price Action and Elliott analysis can significantly enhance trading strategies. This tool is particularly useful in identifying support and resistance levels, which are crucial in forex trading.
Reactive Method of Analysis
Volume Profile FR employs a reactive method of analysis, relying on past price movements and volume behavior to apply meaning or significance to price levels where the market has already visited. This approach is different from proactive methods such as trend lines and moving averages that predict future price movements based on current price action and analysis.
According to basic technical analysis, a support level supports a price on its way down while a resistance level resists the price on its way up. Therefore, a volume profile that heavily favors the buy side in terms of volume is a good indication of a support level. On the other hand, a volume profile that heavily favors sell side volume indicates a resistance level.
Key Features of Volume Profile FR
Volume Profile FR boasts a range of features designed to improve the user’s trading experience. Its graphics and user interface are simple and attractive, making the tool easy to use. The software also provides high-speed calculations compared to other similar products, thanks to its advanced search algorithm. The user can adjust the accuracy and speed of calculations based on their needs.
The tool is available for use in all markets, including Forex, stock market, and crypto market. Its indicator parameters include the Calculation Period, which allows the user to specify the deep search in a specific time-frame, and M1 Minute, which performs calculations on M1 time-frame candles.
Independent Testing and User Experience
Users can watch independent testing of Volume Profile FR on the forexroboteasy.com website. By subscribing to updates, users can stay informed about the latest testing results of this product. If you’ve used Volume Profile FR, feel free to share your experience. Your insights could be invaluable to others who are considering this free forex tool.
FAQs
Q: What is Volume Profile FR?
A: Volume Profile FR is a free forex software that uses volume as a fundamental parameter in its analysis. It calculates the volume in price levels, allowing traders to identify crucial areas in the market.
Q: How does Volume Profile FR differ from other volume indicators?
A: Unlike typical volume indicators that work on a time axis, Volume Profile FR calculates volume in price levels. This advanced feature allows traders to view the volume of support and resistance levels and make decisions based on this information.
Q: Where can I find independent testing of Volume Profile FR?
A: You can watch independent testing of Volume Profile FR on the forexroboteasy.com website. By subscribing to updates, you can stay informed about the latest testing results of this product.
This review is an independent analysis of Volume Profile FR. It is not affiliated with the product or its creators.
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