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I see a lot of studies based on bid/ask volume. Ratios, differences, the actual volumes, etc. Has anyone found a use for that info? I made the long/short prediction indicator in the first two posts based on bid/ask volume. I don't know if that' useful at all, though. It just kinda tells...

Sorry for posting those wide images that are throwing off the width of all the posts on the page.

I want to know if and how people use volume to determine direction (or, if you prefer, likelihood of direction).

Could you be any more vague?

Let's have a discussion how to use volume as it relates to trading signals. I meant to put this in the first post.

Here is an April 3 YM chart.

I've been looking into volume recently to try and see if there's anything I can learn from it. I made the following indicators based only on volume and price. Obviously this is not a trading system. I just made these "indicators" to try and visualize what is happening with volume...

A consistently losing system with a decreasing equity curve.

Can you post a chart showing that?

Yeah, but it's weird when you actually try to make a losing system.

I've been trying all night. A good starting place and good thought exercise is to start with a few of your favorite popular indicators and reverse the signals. You'll find you still do about the same. Take something like stochastics that is supposed to tell you when the market is...

SierraChart. Bid ask volume bars is one of the chart types you can choose.

If you use a time chart then a thicker bar = more volume, and color of the bar shows the percentage of bid vs ask. What does having this information allow you to do?

This is a 1000 volume chart of the YM. These are cool looking but is there a use for them? They show you the percentage of trades placed at the bid vs. at the ask. I don't really see anything useful, for example, just because one candle was mostly filled at the bid does not mean the next...

I've been pretty successful both day trading and long term trading without predicting. Have a look through the threads I linked to in the first post.

I wonder if time of day matters. Is there any data on when price tends to be the trendiest? Seems like big trendy moves can start anytime, though.

I don't know if "neutralized" is the right word, but I know what you're saying. Unfortunately I cannot predict direction, so I have to trade the way I do.

Second trade was a winner, although a small one contract winner: Short 1 ES @ 1551.25 Short 3 ES @ 1552.00 (order never filled) Short 5 ES @ 1552.75 (order never filled) Stop loss: 1555.25 Target profit: 1548.50

First trade today was a loser. Buy 1 ES @ 1554 Buy 3 ES @ 1553 Buy 5 ES @ 1552 Target profit: 1557.50 Stop loss: 1548.75

Looking forward to some more trades.