This net volume lower chart is generated from formula ($UVOL - $DVOL) / $TVOL and compares to its 21 periods simple moving average. Ane advantage is that this chart will never miss trending market. in sideway or range market, I use this to confirm the price movement - if responsive buying or selling, the volume line will not follow the price movement in proportion, but the volume line will in lock step with initiating buying or selling movement.
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