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At the e-mini site I found the info on the Better Volume 1.4 indicator but their breakdown of the various colored bars omits the blue bar which I believe is neutral. Does anyone know what neutral means relative to the other bars?
At the e-mini site I found the info on the Better Volume 1.4 indicator but their breakdown of the various colored bars omits the blue bar which I believe is neutral. Does anyone know what neutral means relative to the other bars?
Thanks.
Good question. IO was about to ask about the neutral bars.
How can it be that you can have a high climax bar which you need to pay attention to especially for s/r, and then have a blue neutral bar (immediately before or after I have pften seen seen) that exceeds the volume of the climax high ? I would have thought neutral would have been just that - somewhere in the middle ?
A blue bar is just one that doesn't satisfy any of the criteria to make it a colored bar (yellow, red, green etc). If you look at the code you can see the various criteria that make each bar.
I downloaded the Better Volume (TRO's version) and tried it last night. I am quite in the dark about how to use it though. Does anyone have a description of how to use this indi? I have noticed the text goes red when you get a big momentum bar,which indicates high tick volume, but that volume can be either up or down. Plus, if you wait for these high volume bars, you are often missing the boat.....
You should remember that Wick is pretty much useless - it's an indicator that shows candlestick shadows. You can easily trade on volumes and candlesticks instead.
Only red wick bar: high = open/close price. (because there was no shadow above the open or close price).
Only blue wick bar: low = open/close price. (because there was no shadow below the open or close price).
Volume does not teach or learn or give you any kind of valauble information what so ever.
If you trade with a spread broker you have hardly any information on volume.
If you trade what ever kind of serious future like the S&P-mini or the dow-mini or the european BUND etc...you have all the information needed on volume.
Up till now there is not one bit of proof given to use volume information in a reliable way.
The reason for that is:
Price can go down on low volume
Price can go up on low volume
Price can go down on high volume
Price can go up on high volume
And most important lets say that you have correct volume information and price is moving up and you suddenly see a serious spike up in the volume , is that someone who also wanted to go long and this way confirms the move up or is that someone who was sitting long and closed his long by covering it with a short order and believes this was the end of the move up ?...
In other words..volume does not give you any valuable information. The only info is that there was a lot of interest at some point but up or down you don't know.
iGoR
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Success comes with knowledge. Knowledge comes with experience. Experience comes with time and hard work... (iGoR) MT Intelligence - Stats for fxigor1
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