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The essence of VSA is this:
Looking at Volume, which is activity, and the resulting effects this CHANGE in volume has on spreads and closing price (high, middle, low of bar).
Since volume is activity, tick volume can be used where actual volume is not available.
But take a look at his charts, the volume is constant as he is using tick charts. If there is no change in volume because it is held constant, it can not be VSA. The concept of Relative is essential. Today's period relative to the volume 1 bar prior or two bars prior.
Simply, It may have some value, but it is not VSA. |
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PP, what charts are you referring to? I downloaded and ran his free volume indicator for Tradestation and it performs as advertised. It even has his voice for audio alerts.