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AHHH so if the contract/contracts are bought on an uptick it's green and if it's bought on a downtick it's red.
I understand the difference, I have the tick delta indicator only.
Have you shared your custom indicator here, I'd love to watch it at work if you're willing to share.
Thanks for the correction. |
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MC, see attached. My "famous" up-inside-down volume indicator is the essence of simplicity. I simply put both upvolume and downvolume indicators (standard Tradestation issue) on the same subgraph, and arrange them so that the upvolume is inside the downvolume. Personally, I put this double indicator on two timeframes---I include it on a five minute chart, and also a one minute chart. With the one minute chart, you can more easily see how the volume is unfolding as the five minute bar is progressing.
There are lots and lots of cool nuances to watching the volume this way. As I've said before, those of you who are volume freaks (and everyone who trades with
VSA should be, IMHO), please put this on your charts and just watch it for a week. You'll be amazed how much information you get out of it. Yeah, there are lots of subtleties, but that's a good thing.
One word of caution from that famous trader Yogi Berra, "It ain't over 'til it's over." In other words, don't make the mistake (speaking from experience here) of assuming that the volume pattern on a bar will be such-and-such until the bar actually closes.