I recently posted ten criteria for identifying a range day. Another one is a narrow value area (blue arrows above), as the majority of volume trades within a small price range. That indicates relative consensus regarding value. When we see volume bunch into a narrow range this way, we also want to be alert for breakout trades, particularly if volume picks up overall. If we see volume--and volume at offer--pick up with price above VWAP, that could suggest an influx of buyers and a likely test of range highs.
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2 comments:
Hi Brett
I am trying to set my market delat chart up as you have it but having difficulty doing this?
If you would not mind helping
Thanks
Hi Scott,
I've found the support people at Market Delta to be helpful at this; they can walk you through the set up live.
Brett
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