The Apex Ice Volume Zone v2 indicator is a powerful tool when it comes to trading. It gives precise points of where the volume is in the markets. Though many of us may be familiar with what it is, some of us still may not know the simple methods of how to use it effectively in our daily trading. Here's a method we call "ICE Skating". In order to use this technique, the histogram needs to be set to true so in order to identify where the volume lies within the ICE Volume Zone.
Now that the histogram is showing, we can now see the volume. Remember, the volume that it shows is from the previous days session. This gives a clues as to where we can expect chop as well as breakouts. What we want to look for now are our levels of low volume. These low volume areas provide us with turning points in the market. Volume is the key in trading. The market goes to where the orders are. If there are no orders at a specific point, the market will then begin to look for them in other areas.
Step 1: Identify Low Volume Areas
The best way to do this is by looking at the histogram as hills and valleys. Where the hills begin and end are the valleys. The valleys are the low volume areas. Also, note where the high and low of the histogram is.
Step 2: Mark the Low Volume Areas
Now that the low volume areas have been identified, mark them on the chart. This way they can be used as intraday magnets to help identify where price will go as well as where the market can reverse.
Notice how the low volume areas serve as great targets and reversal points. The market goes from one point to the next. By doing this, it makes it easy to identify where the orders are in the market and make great trading decisions based off of this information. Think of the histogram as an ice skating rink and you, the trader, as a skater. You are now "Ice Skating" from level to level. This is best done after each day's trading session in preparation for the next day's trading session. Once the ICE Volume Zone has been recalculated, you can begin this process. These levels are good for one day.
Now that you know how to Identify these levels on a daily basis, you are now ready to "ICE Skate" your way into profit!