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CDRW_With Alert
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[QUOTE="mjackson, post: 24501"] I forgot to say that indicator CDRW was created by "thatwasme" from another website and another forum...Here is description/interpretation of signals by"thatwasme": This is a indicator I wrote for myself. It has 4 states. I believe that a price volume bar can have one of 4 states. 1. It can have increasing spread and decreasing volume. This means that price is moving without strong participation and can not be sustained. Due to the lack of participation, the price is ripe for a reversal. This is displayed as a Magenta Diamond on that bar. 2. It can have increasing spread and increasing volume. This means there is wide participation and price should continue in this direction. A red arrow shows the direction down when supply is overtaking demand. A blue arrow shows direction up when demand is overtaking supply. 3. It can have decreasing spread and increasing volume, which means that the supply and the demand are temporarily stalemated. This is a warning that the direction move may be losing steam. This is shown by a yellow x on that bar. 4. It can have decreasing spread and decreasing volume. This to me means that the bar has little participation from anyone and that the market is dull or congested. I do not show any indicator for this, because it does not portend any information other than dullness. If you can use it feel free to do so. This is from my own style of volume trading and not strictly VSA per say. [/QUOTE]
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