Candle spread multiplied by the volume
Posted: Fri Dec 10, 2021 6:50 pm
Hello,
Why does the PVSRA candle trigger use higher than average volume OR the spread multiplied by the volume?
Candles triggered with the spread multiplied by the volume, occasionally trigger candles with lower than average volume and even color candles that have a majority of thin volume.
What does the spread multiplied by the volume indicate to the trader in your eyes?
Thank you,
Premier Crypto
From the User Notes for the Candles indicator, which you should have read by now as part of HOMEWORK......
PVA candlesticks are used with PVA volume for easy recognition of specific chart time frame bars where special price and volume situations occur. The situations, or requirements for the PVA colors used are as follows.
Situation "Climax"
When volume >= 200% of the average volume of the 10 previous chart TFs or where the product of candle spread x candle volume is >= the highest for the 10 previous chart time TFs.
Default Colors: Bull bars are green and bear bars are red.
Situation "Volume Rising Above Average"
When volume >= 150% of the average volume of the 10 previous chart TFs.
Default Colors: Bull bars are blue and bear are blue-violet.
These "situations" basically find most of: when relative volume went high while MM's confined price spread (possibly MMs filling SM orders within limited spread?) and when the product of relative volume x spread went high (possibly MMs willing to begin a move?). Regardless of which, these situations alert us to relative activity increases that might be important buying and selling clues in the overall support and resistance picture. - Tah
Why does the PVSRA candle trigger use higher than average volume OR the spread multiplied by the volume?
Candles triggered with the spread multiplied by the volume, occasionally trigger candles with lower than average volume and even color candles that have a majority of thin volume.
What does the spread multiplied by the volume indicate to the trader in your eyes?
Thank you,
Premier Crypto
From the User Notes for the Candles indicator, which you should have read by now as part of HOMEWORK......
PVA candlesticks are used with PVA volume for easy recognition of specific chart time frame bars where special price and volume situations occur. The situations, or requirements for the PVA colors used are as follows.
Situation "Climax"
When volume >= 200% of the average volume of the 10 previous chart TFs or where the product of candle spread x candle volume is >= the highest for the 10 previous chart time TFs.
Default Colors: Bull bars are green and bear bars are red.
Situation "Volume Rising Above Average"
When volume >= 150% of the average volume of the 10 previous chart TFs.
Default Colors: Bull bars are blue and bear are blue-violet.
These "situations" basically find most of: when relative volume went high while MM's confined price spread (possibly MMs filling SM orders within limited spread?) and when the product of relative volume x spread went high (possibly MMs willing to begin a move?). Regardless of which, these situations alert us to relative activity increases that might be important buying and selling clues in the overall support and resistance picture. - Tah