As a novice trader, one of the common challenges you might face is not being able to get a volume lower study on TOS (Thinkorswim) forex charts. This can be frustrating, especially when trying to analyze market trends and make informed trading decisions. In this article, we will examine the possible reasons why you can’t get a volume lower study on TOS forex charts and the steps you can take to resolve the issue.
Before we proceed, it’s essential to understand that volume is a critical indicator in forex trading. It measures the number of units of a particular currency traded within a specified period, usually a day. Volume is useful in identifying market trends, confirming price movements, and predicting future price changes. Therefore, not having access to a volume lower study can limit your ability to make profitable trades.
One of the main reasons why you might not be able to get a volume lower study on TOS forex charts is that the volume lower study is not a default indicator on the platform. TOS has a wide range of indicators that traders can use to analyze the market, but they are not all displayed by default. Therefore, you need to add the volume lower study to your chart manually.
To add the volume lower study to your TOS forex chart, follow these simple steps:
Step 1: Open the chart you want to analyze on TOS.
Step 2: Click on the “Edit Studies” icon on the top right corner of the chart.
Step 3: In the new window that appears, click on the “Studies” tab.
Step 4: Scroll down the list of studies and select “Volume Lower Study.”
Step 5: Click on “Add Selected” to add the study to the chart.
Step 6: Click on “OK” to close the “Edit Studies” window.
Once you have added the volume lower study to your TOS forex chart, you should be able to see it on the chart’s bottom panel. The volume lower study displays a histogram that measures the difference between the current volume and the average volume over a specified period. Traders can use this information to identify trends and potential price reversals.
Another possible reason why you can’t get a volume lower study on TOS forex charts is that you might not have access to real-time market data. TOS requires traders to have a funded account and subscribe to real-time market data to access some of its features, including the volume lower study. Therefore, if you don’t have access to real-time market data, you might not be able to add the volume lower study to your chart.
To resolve this issue, ensure that your TOS account is funded, and you have subscribed to real-time market data. You can check your market data subscription status by clicking on the “Setup” tab on the TOS platform and selecting “Application Settings.” Under the “General” tab, click on “Data/Trade Services” to view your subscription status.
In conclusion, not being able to get a volume lower study on TOS forex charts can limit your ability to make informed trading decisions. However, this issue is often caused by a lack of knowledge on how to add the study to your chart or not having access to real-time market data. By following the steps outlined in this article, you should be able to add the volume lower study to your TOS forex chart and analyze the market effectively. Remember, volume is a critical indicator in forex trading, and understanding its impact on the market can help you make profitable trades.
