That's a good looking color scheme Stepan7. I have some color blindness and usually go with black background so I end up with a limited color palette, but with high contrast. White backgrounds limit the palette too severely to be of use for me. I'm gonna mess around a bit. And since I'm re-writing, nah, just improving MY pv stuff, it's perfect timing. Thanks for the ideas! I like the way you've colorized volume, following flaws. Nice.
What's "flaw"? Movements on decreasing volume? Jun-Jul looks very readable if you wait for black bars and RTL BO. Good way to distinguish Dom / Non-Dom! Yesterday looks like may become BO of latest bear RTL on increasing volume.
Per Hershey PV, there are 10 price-bar cases (as mentioned in the thread title.) Only 2 of those 10 make money for the trader. The other cases are considered flaws. Flaws may (or may not) give permission to analyze (use) the associated volume for context and continuation of the current volume sequence. As you know, for futures trading, SCT in particular, JH methodology requires bar-by-bar analysis. At first glance, Stepan7 colorizes the price bar flaws and associated volume. Upon looking closer, it seems the colorization does not apply to all 8 of the flaws, and also includes some permission and/or other type logic, but without visible distinction when applied. In particular I am looking at and referring to the orange? ish? bars both on price and volume. And the bar that immediately follows such. Please note: This is not a critique or criticism of Stepan7 or his work. I LIKE IT!!
To make it simple to understand, consider "flaw" as consolidation, per JHM it's should occur on Declining Volume (orange or green), and will resolve itself in the directional Dominant move on Rising Volume (red or black). All "flaws" are Non-Dominant. When working with the Volume one should understand that Volume has two characteristics: 1) Volume Relative to previous Volume (green vs black or orange vs red) and 2) Historical Absolute Volume value (horizontal pace lines).
I like it too! We tend to bypass bar-bar analysis. For 2) is that different historical volume averages?