Dear ProRealCode/ProrealTime
I would like to trade NET VOLUME INDEX of certain markets (e.g. S&P, NYSE, FTSE, DAX, and ideally lots of specific stocks) but it is not indicator, it is an index. I would like to trade / track it, some data providers offer versions of this.
Dr Barry Burns uses the Net Volume Index as one of his favourite trading methods, based on trading with the trend, also known as “trend following.”
Many people would describe it as a trend trading indicator but I think its correct description would be a Net Volume INDEX.
Dr Burns describes it:
it is a statistic that is measuring the volume of shares of a security that are traded when the price is increasing, and then conversely when the volume of shares of a security that are trading when the price is decreasing, and measuring that difference.
HERE IS THE LINK to his explanation….
Can you help?
In Trading View there is a screen for NYSE ADVANCING VOL – DECLINING VOL USI:ADVDECV.NY
Here’s hoping someone can code it for Pro Real Time.
All the best
.
