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It seems 40 or so people have downloaded this but I have not found much of a discussion around it.. From what I have seen today, this does a real nice job of identifying turning points based on volume (something I have always been interested in but never …
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
I use the Better Volume indicator to identify buying/selling climax (exhaustion). It does not always work out, but works enough times for it to be my main reversal methodology.
I note that you have requested an exhaustion indicator based on specific criteria relating to the relative volume (from the 'Want your Ninja Indicator created' thread. The only 2 criteria I use are:
1 - to be the largest volume of the day so far and be at HOD or LOD
2 - Where it closes - i.e, it has to look like a reversal bar, closing near it's low for a top reversal (buying climax) or near it's high for a bottom reversal (selling climax)
However, be careful if it is the RTH opening bar, as that is usually the largest volume to that point, and more often than not, gives a fake signal.
I appreciate the info.
For sure, you method has plenty of cred... especially if it works for you
The indicator I am hoping to have created is pretty specific to a trade setup I look for... which really isn't that dissimilar to your method, just with a slight variation.
