The Volume Reversal indicator scans for a specific chart pattern spanning three bars. It identifies a scenario where there are two bars with increasing volume in one direction, followed by the third bar moving in the opposite direction with higher volume. This signal is a strong indicator of an impending price move in the direction of the third bar.
Volume reversal indicator in Quantower
This indicator can be found in the list of indicators within the Volume sub-section. Click on the indicator and it will be added to the chart.
Actually, this indicator is quite straightforward since it displays a specific pattern. Therefore, in the settings, you can customize only the colors for Buy/Sell signals, and you can also enable notifications for new signals.
Settings of Volume Reversal indicator
If notifications are enabled for this indicator, you'll see them in the Alerts Log panel.
Alerts Log panel with signals from Volume Reversal indicator