Using Volume Bars for a trigger

For those that like simple, mechanical trades, here is an approach to consider involving Volume Bar counting. For an example, let’s take a look at the 60 minute chart for $MON:

  • Every instance of 5 RED volume bars in a row, buy the next Green candle
  • Use your own stop method
  • Each of the prior 3 instances would have a profitable trade if the stop was set above Breakeven. The last instance would of produced the largest profit potential over the life of this chart
  • Price is currently building a Green candle

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