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You have got to be kidding me. What we need (OK, what I need) is a separate thread where I can safely fire up my flamethrower. |
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The most productive route would be to illustrate with charts. That way it will far quicker and informative to ascertain whether or not the green/red bars on the volume histogram have any value.
For example when the market breaks out of a congestion zone,
1. There would probably be a wide bar on high vol, if this is a genuine breakout you should observe more green then red, right.
2. Now lets presume there is an uptrend first, as the prices rise, along the way there are WRB on high vol, then retracements and continuation. Once again you should observe more green then red on those WRB and less red then green on the retracement bars.
3. Now lets say there is buying climax , market goes sideways, there are upthrusts, no demand etc and then breakdown and market reverses to the downside. On that buying climax you should observe more red than green, right.
4. Prices now keep going down with WRB on high vol, retracement etc . The green/red sequence should now be opposite. more red than green.
5. We get a selling climax, there should be more green than red here
Hope I am reading you right, if you observe these changes along the various bars mentioned above in realtime charts, then at least that should provide some more meaningful discussion.