The Weis Wave Volume Indicator is a technical analysis tool for MT4 that combines both momentum and volume to indicate buying and selling pressure in the market. It measures the intensity of price changes with the volume of trades.
The wave structure offers convenient sites of entry and exit. A good purchasing point is when the wave lowers, and a good selling opportunity is when the wave of the indicator rises.
Weis Wave Volume Indicator overview
The Weis Wave Volume Indicator is an oscillator that measures the volume of price changes. It combines both momentum and volume to indicate buying and selling pressure. The indicator is designed to show a bull market when the volume is increasing and the price is rising, and a bear market when the volume is decreasing and the price is falling.
You can learn about the trend’s intensity and direction using the Weis Volume indicator. At the bottom of the indicator are a wave and many bars.
Weis Wave Volume Indicator Chart Explanation
The chart of a Weis Wave Volume Indicator shows the volume of trades as a vertical bars and the momentum as a line that oscillates above and below a horizontal axis. A buy signal is generated when the indicator moves above the zero line, and a sell signal is generated when it moves below the zero line.
The wave depicts the trend’s direction, and the bars show the volume. The bars show both a bullish and bearish trend, similar to any other volume indicator.
Weis Wave Volume Indicator Buy Signal
- The volume on the Weis indicator should be high.
- Watch for the wave to rise.
- At the green bar, enter the trade.
- Place a stop-loss order close to the purchase point’s low.
- When the bar’s color changes, close the position.
Also Read: Exness Review – Is it The Best Forex Broker?
Weis Wave Volume Indicator Sell Signal
- The volume on the Weis indicator should be high.
- Observe the wave and wait for it to go down.
- The red bar is where you enter the trade.
- Put a stop-loss order close to the selling point’s high.
- When the color of the bar changes, exit the trade.
