SPG Fx Volume Indicator

This indicator is for Forex intraday trading and works best for binary 5 minute contracts but will work for Contracts up to 2 hours in length.

The "SPG - FOREX BINARY INTRA" indicator is a companion for this one. It will give confirmation of the entry signals that this will show you.

This script is broken up into 4 parts

Confidence Cloud/Background Color

This will indicate the current bull/bear trend and if your entering a position - the strength of the direction of that bar will be reflected by the background color behind that bar.

Green - Bull Trend
Red - Bear Trend
Yellow - Transition/unsure

Small BUY/SELL arrows and Green/Red triangles

On the bottom of the chat are the main entry indicators

Green/Red Triangles are a strong entry signal
Green/Red Tringles and a Buy/Sell arrow is a very strong entry signal

Buy/Sell Pressure

The histogram indicated the buy/sell pressure for the bar – This indicated in which direction the bar moved the most – This is mostly for a future “rating” on a position that was taken and perhaps can drive an indication when to Hold or exit the contract.

Green/Red arrows and Xs labeled OS, OB or X

These are located on the top of this indicator and aren’t necessarily actionable indicators but are meant to indicate overbought or oversold conditions and transitions when prices are moving out of those states.

The indicators may correlate with entry signals but watch for the Xs and do not enter a trade on a transition.