Great work on coding the better volume indicator! Here are the basic rules from the video: Red bar - wide range, high volume (climax bar). Can be seen at beginning of uptrend, end of uptrend., and in continuation of downtrends. Green bar - low range, high volume (high churn bar). Can be seen at beginning of uptrend, end of uptrend, and continuation of downtrend. White bar - low volume, high range (low churn bar). Can be seen at bottoms, tops, and continuation of uptrend. Yellow bar - low volume, low range. Seen at similar places to the low churn bar(white bars). Magenta bar - Climax volume plus High volume churn - both the conditions are rare. Topping Patterns: 1) Climax bar (red) followed by high churn bar (green). 2) High churn bar (green) followed by climax bar (red). 3) Low churn bar (white) followed by low volume, low range bar (yellow). Bottom Patterns: 1) Low churn bar (white) followed by high churn bar (green) then climax bar (red). 2) Low churn bar (white) followed by low volume, low range bar (yellow) then climax bar (red). 3) High churn bar (green) followed by climax bar (red). Continuation Patterns: 1) Low churn bars (white) as well as low volume, low range bars (yellow) can be a sign of a continuation of an uptrend. Around pullbacks in price. 2) High churn bars (green) followed by climax bars (red) can be a continuation of a downtrend. Any of these above patterns can have some blue bars (neutral bars) in between the colored bars on your chart. The colored bars will not necessarily happen one right after the other like stated above. They may have some blue bars between the colored bars is all I am trying to say. Someone please correct me if I am wrong on any points above.
mantoudi