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Strategies & Market Trends : Technical Analysis With Charts

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To: MACD X who wrote (238)9/1/2004 11:48:05 PM
From: cthruu   of 6865
 
That is another proprietary indicator of TC2000, TSV or "time segmented volume". This is an oscillator which calculates various time segments of price and volume. When it is trending above the zero line, it shows positive accumulation and vice versa. I look at it in 30-period time frame.

One wants to see the positive/negative divergences between price bars and TSV. If you look at the daily chart of SMH you will see a positive divergence developing over the last month. In a three-day time frame chart there was a negative divergence between price, TSV and Money stream (cyan line in bottom of the chart) during last part of 2003. The BOP bars (middle window) turned from green to red in the same time frame, creating a negative divergence on three-day bars. The trend changed after January high. All these indicators showed negative divergences prior to the trend change.

You can even apply other indicators to TSV such as a moving average to smooth it out. I do not use such esoteric functions.
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