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Jim:
Shortly after Joe Granville's first book came out, the one on TA, and I
think before the OBV book came out, Worden was indeed publishing his tick
volume letter.
Intuitively tick volume, or time segmented volume, would seem to be more
useful than OBV. As a measurement, tick volume is more precise than daily
OBV. Are there any studies that show whether or not tick volume is more
accurate than daily OBV? It seems to be like using real time data versus
end of day data. It may depend on your trading style, and on your time
frame?
Does anyone supply tick volume anymore? How does it compare with other
similar indicators?
Lionel Issen
-----Original Message-----
From: Wooglinx@xxxxxxx <Wooglinx@xxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Sunday, January 24, 1999 12:04 AM
Subject: Re: TC2000 Time segmented volume
>Many years ago, when the father of the current owners of TC2000 was active
he
>published a market news letter. I believe it was called the Worden Tape
>Reader. He had an indicator he called Tick Volume. For any given security,
he
>measured the volume on every tick up or down and accumulated the value. Up
>tick volume was positive, down tick volume was negative. Increasing
>accumulative tick volume was an indication of buying pressure. If I'm not
>mistaken, there approach actually preceded Joe Granville's On Balance
Volume
>work/publication.
>
>About 5 -6 years ago, I had a lengthy conversation with one of the current
>Worden brothers and I got the clear impression that Time Segmented Volume
is
>the same as his fathers' tick volume.
>
>As such, there is nothing in MetaStock EOD that would measure tick volume.
I
>don't know if something in MetaStock Real Time can do the same thing.
>
>Good luck and good trading,
>
>Jim Barone
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