Volume or Turnover?

Hello friends,

Traditional charts contain volume below their X-axis. But i still consider volume to be deceptive. What if u plot Turnover rather than volume?
Could we get a better perspective? Can we get a better momentum picture?

All members are requested to comment.

Regards,
Winston

Winston,
Volume = Total number of shares traded
Turnover = Price X volume.
Substituting volume with turnover will not give you the complete picture. Of course, if you watch the volume bars carefully, you will notice at what particular price demand/supply came in. Intraday charts give this picture very clearly. You can achieve the same result by utilising volume at price indicator in Amibroker. How many of us are using that? If you combine volume and delivery figures with volume at price, you may get better and clearer picture. Hope this helps.

Hello RSI

Thanxs a lot for ur help!

Sometime Volume Can Give U Wrong Picture.. Example Short Covering...

Volume bars should never be read in isolation. If you read one volume bar alone, there is likelyhood of getting wrong conclusion. There are lot other things that should go with volume bars. Price bars/candles, its range, support/resistance levels, trendlines etc. should also be considered. Volume bars helps to put the pieces of puzzle together. For example, it is equally important to note/observe whether there is any follow through action after huge volume breakout/breakdown. Also, note at which stage of the move the volume has built up. There are many many things to be observed and analysed.