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time for more testimonial...
Note: this is from advertise materials sent to me, I cut & paste relevant stuff
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Yesterday, I received an email from a client that just started using the Directional Volume indicator. While the Directional Volume indicator looks a little overwhelming initially, the breakdown is simple:
Price action is incorporated into the volume indicator. Highs are identified with blue volume bars. Lows are represented by red volume bars. Outside bars are shown as magenta volume bars and an inside bar is gray.
Each volume bar shows the cumulative volume of both buying and selling
The portion above zero indicates buyers. The portion below zero indicates sellers.
The small hash mark ("-") shows who controlled the bar as it closes (buyers vs sellers).
That is a lot of information packed into the volume bars. However, it is the same information that is used in market profile and cumulative delta. I studied cumulative delta for over 2 years but the one issue I had is that the information displayed is overwhelming and multi-tasking is a must. Quite often I would miss a trade because I was busy analyzing the cumulative delta. The more markets you trade, the more likely it is that you will miss a trade. Therefore, I took what I knew and designed the Directional Volume indicator.
The client that sent the email has more than 30 years of experience trading the markets. He has traded professionally, as well as his own personal accounts. He is also a follower of market profile and footprint charts. Here is his take on the Directional Volume indicator with the Trend ATR and ATR support and Resistance indicators:
Note: it's at the level of both Market Profile and footprint and cumulative delta
thank you for your (interesting!) reply.
I suppose your first indicator was for NT7, in such case could you perhaps convert it to NT8, ... with or without possible additional features you might have been thinking in the meantime.
as an example, .. I dare to say ..., adding a marker telling how close in % of the VA the end of a a bar is vs either the VAH or the VAL could also be interesting.
Best
The your Vol stop indy has become one of the main elements of my entry chart. Been using it for over a year now and absolutely Love it! Thank you good Sir
this indicator , GomBidAskPVbyJackH is for followers of 'volume leads price' school. PV stands for Price Volume relationship.
The indicator is like a 3D puzzle watch the clip starts at 6:50 and take note so you won't miss finer details.
clip: …
I know this thread is old, but how can this indicator work well on a volume chart? On a 1500 volume chart, the volume will show 1500 contracts per bar by default right? So how will you determine increasing / decreasing volume given a volume chart? I guess I'm missing something?
