Haha, sure....good question.......yep I can explain.....they are the cumulative points of spread (or range) for each wave (in some respect, the wave chart is sort of like a modernised Point and Figure chart).
In a nutshell.....Buying and selling usually occurs in waves.
On a 'normal' wave chart, the cumulative volume numbers for each wave are shown (which are just the volume for each bar in the wave added together, until each individual wave is complete), and these volume numbers are used as a way to illustrate the strength of the waves of buying and selling. And the wave numbers can then be compared to each other (along with their length and duration), to gain some understanding of the strength or weakness of the buyers and sellers in the market at that time.
Under most (but not all) circumstances, volume and spread are a good proxy for each other, so on that chart I have replaced the 'normal' cumulative volume numbers, with cumulative points of spread (or range) for each wave.
It is experimental up to a point, one I have run for quite some time now, and seems to work OK.
Does that make sense ??
cheers
- Forums
- ASX - By Stock
- XJO
- Weekend Charting and Chat - 12th May 2017
Weekend Charting and Chat - 12th May 2017, page-23
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,150.0 |
Change
-55.200(0.67%) |
Mkt cap ! n/a |
Open | High | Low |
8,205.2 | 8,205.2 | 8,107.6 |
Featured News
XJO (ASX) Chart |