For intraday traders, volume indicator plays an important role in trading pattern analysis and market direction prediction. It gives key signals of the changing trend so that traders can take proper trading decisions before any actual price move occurs. The Volume Strength Finder Indicator (also known as VSF Indicator) developed by Dr. Alexander Elder is one of the best technical tools which are used to forecast market direction and potential price patterns based on volume and pattern recognition.
Why Volume Strength Finder Indicator?
VSF is a free volume indicator which uses 3 line patterns. Each and every candle of today or any future day’s market will be separated as buyer/seller strength based on pattern formation in Market Profile, Risk (Note Risk is less as well as greater than SMA). The most popular pattern of VSF is Bearish Belt Hold Pattern.
When to use Volume Strength Finder Indicator?
Calculating Buyer and Seller Strength each and every candle of the day based on the pattern formation.
High - close => Buyers
Close - low => Sellers
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