The True Range Specified Volume study is a resistance indicator. It is calculated as volume divided by TrueRange.
Resistance can be spotted when True Range specified volume is at least 1.5 times greater than its previous value.
||The True Range Specified Volume plot.|
1. "Using Volume To Detect Shifts In Power" by Vadim Gimelfarb. Technical Analysis of Stocks & Commodities, November 2004.
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.