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Volume Indicator

Description:

Plots daily volume, normally shown as a histogram.

Conventional Analysis:

Used to confirm strength of a move or breakout.

Additional Analysis:

A market move accompanied by increasing volume is generally more likely to continue in the same direction, whereas a move accompanied by decreasing volume is less likely to continue. Decreasing volume indicates decreasing participation
among investors, and a general lack of conviction which often precedes a change in trend. In addition, a significant decline in volume for an extended period is characteristic of a bear market.

Open Interest Indicator

Description:

For Futures Markets only. Plots the number of open contracts of a given future.

Conventional Analysis:

An increase in Open Interest with an increase in price, confirms an upward trend. A decrease in Open Interest while prices are making new highs is often seen as a warning to a decline.