Distribution Bars - William O Neil

#1
Hello all,

I have been reading a book which tells that all market tops are formed after a series of 5 distribution bars are witnessed in a span of 4 weeks.

Definition - Price closing in negative territory with increase in volume as compared to previous day is called distribution day.

However, I have not been able to see much merit of it, although it sounds very logical.

Can somebody help me with this ?
 

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