Prorealtime calls it "Volume on Price Levels (on Price)"
I haven't used it for longer than this weekend, but its here to stay that's for sure.
For instance on MHM, the big up move has relatively no volume, so if it were to break that support, i would assume it to fall, and fall quickly... helps to explain gap theory a little as well.
Also i have been using to provide further assurance that horizontal supports are actually that.... A SUPPORT (based on higher volume it truly does indicate that a base/or ceiling is in front or behind price. (Just my thoughts on it, not from a textbook but sounds reasonable/logical)...
Thanks for the 80.0% rule on the MHM chart. maybe it isn't as good as first thought?
