Can anyone help me out. I am playing around with Relative Volume as a "go" "no-go" indicator for trades. I cannot figure out the difference between a Red , Green or Blue bar on the output. I am using Sierra charts
I know you're not going to like hearing this, but you did ask for help. At its best, volume is coincident with price. At its worst, it's contrary/conflicting to price. Overall, it's irrelevant. However you try to include volume in trading decisions (except "size" concerns), your results will be hampered. IOW.... FUGGETABOUTIT! Trade as though you never even heard the word "volume". (Be prepared for "whines from the peanut gallery" about the importance of volume. Don't listen. That's my $.02 worth.)