DislikedNice re-entry trade!!!
I'd want ask you about your new vol indi...What varies with respect to VA?
BTW...nice Gray Dragon...
Regards.Ignored
The PVA has done away with the "rising volume" altogether. The "stopping volume" is calculated a bit differently.
1. longer day and a half period for comparison
2. anything about 2/3 of max displayed instead of just max being displayed
3. experimental new way of choosing colors that can have a bull candle red and a bear candle green, but not at all like the Better Volumes formula which decides based simply on if close is above or below mid-candle. The new way is looking at the "thrust" of the candle....up or down, and requires comparisons to prior candles, and on that basis decides if green or red.
Overall, the PVA is intended to leave the volume study real clean, and only ID strong thrusting activity which can be at the start of a run (in either direction relative to the run, as we well know), or at the end of a run when the final thrusts are put on to achieve extreme prices, or come as a result of sudden and extreme reverse move trading.
What I hope to achieve is a study that will provide inter-day clues, not just a lot of stuff within just one day. The AU chart attached is an exampe. First red comes at a sell-off. Later, over two separate days, green shows successful attempts at raising prices so that trading at higher prices can follow. And then a grouping of reds indicating strong thrusting to new lows. It is an experiment to try to just ID key events that might be valid clues as to the Market's disposition.
In the case of this AU example, and if this is working right, the conclusion following the last move down would be that maybe a retrace is in order. And expecially so with NFP tomorrow if the Market is thinking more good news for USD. A retrace would give the Market better positioning for another leg down. If that is not what the Market is thinking, if the Market is undecided as to what to think, then something like flat until next news. I would read the last red thrust down as meaning the Market closed out positions and is lighter on positions now, and waiting.