Hersheys Volume Pressure gives you very nice confirmation of trend starts and stops using volume and price.
For up bars... If you have a large price range with low volume, that's very bullish. If you have a small price range with low volume, that's bullish.
For down bars... If you have a large price range with low volume, that's very bearish. If you have a small price range with low volume, that's bearish.
Look at the chart and you'll see how trends start and end with a PINCH and widen in the middle of the moves.
Hersheys Volume Pressure is unique, in that it measures bull/bear pressure on each bar by itself. Other volume indicators like On Balnce Volume and Price Volume Trend use cumulative differences in the current and previous bar to show trends.
You can set the moving average period, 14 is the default.
Nice work! I like it. For me I'm always looking to things that show wave "force" or urges, surges, pushes and regression, convergence/divergence..this among other things shows that to the trained eye.
MONEYMENOW
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LOOKS INTERESTING ... WOW.. a different thought process..
JustUncleL
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This indicator could prove to be quite useful. Good work.
bnh
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@JustUncleL, I'm VERY flattered coming from someone so experienced, thank you!