The Volume Spike Retracement is designed to detect significant spikes in trading volume that can indicate potential reversals or continuation points in the market. By tracking volume peaks, the indicator identifies key retracement levels that traders can use to optimize entry and exit points. This indicator is ideal for those looking to incorporate volume analysis into their trading strategy, particularly on CFDs.

Volume Spike Retracement in action on a selected financial instrument.

    Complete list of features included in this indicator:

• Volume Spike Length: Customizable length for detecting volume spikes, with a default value set to 89.
• Pivot Multiplier: Adjustable multiplier for volume spikes, set to 0.5 by default.
• Retracement Line Types: Options include Wick, Zone, or Full Range for retracement lines.
• Extended Lines Option: Allows for extended retracement lines across the chart.
• Retracement Line Count: Customizable up to a maximum of 200 lines.
• Label Display Options: Ability to show historical price and volume labels.
• Volume-Based Labels: Includes price and volume values with each spike for additional analysis.

All options come with default settings that can be customized based on the specific market instrument you are analyzing. You can also configure alerts to be notified whenever a new signal is generated by the indicator. The alerts use the “Any Alert() Function Call” option. Simply activate or deactivate the options you want to include in your alerts before setting them up.