Yes, it is old good tape reading. Just way easier when it's graphically presented and you see balance of buyers/sellers in a form of bars rather then colored numbers...
Thanks yoohoo!
My energy to learn and move ahead like doubles after your supportive words!
Will get that book... And don't worry, I don't trust any signals except my own (well, maybe yours or Banjo's too but that's all)... :D :D :D
Yes, raw volume is important too, but delta volume is extremely useful as it shows what is bid/ask relative size (with little experience) and who really dominates the market.
As for delta - it's important to notice when volume balance is switching from buyers dominance to sellers and wise versa...
P. S. Will, this stuff works on SIFs very well (even better cause less arbs there) too...
Moved to NinjaTrader not long ago... Very convenient stuff...
As for TWS charting it's absolutely awful... Never used it unless was completely forced to do so. :D
Yoohoo's post have inspired me to play with volume indicators as an addition to PA reading... Here is recent observation (chart is for futures, I've shorted @ 416 spot)...