View it the same, bar by bar as you would volume. Turnover re bar by bar has little significance as often the price move is not a large %. I find it has most significance over longer period lookbacks. Saying that, I don't care too much about volume/turnover when analysing, nor do I analyse much on a bar by bar blow on trading. Volume/turnover spikes though will grab my interest near S/R levels. The main way I use, is I run a 28MA line through my turnover bars and formulate my algos around this. I like to filter out stocks which historically run on low turnover. Also, very high turnover stocks I'm not much interested in either when looking at selection for trading. Depends though on my method of trading at the time. I run different systems depending on mkt behavior.
Don't ask me why I use a MA28, I have just found it to be a good alround workhorse number which I have used for many years as an EOD trader.
Thank you for expanding on the idea. It makes sense to me in that if an investor has X dollars to invest, low prices allows an investor to buy more, higher prices buys less per budget. The budget's the budget.
The limits of 100/0 or normalization is what makes it useful. CCI isn't normalized and is less useful in my opinion. Both just tell you if there has been significant selling or buying recently, no magic involved, so obviously it cannot predict anything.
It all comes down to emotions, to be honest. Master Fear/Greed (Very hard due to being a homo sapien) and you won't need any fancy indicator on your screen