There is not an indicator or algorithmic function or statistical study or any known means of prediction with certainty when it comes to financial markets. Noted exceptions being illegal activities and outright stealing - and then I'd argue that there is uncertainty as to the perpetrator's future and his or her own personal risk and quality of life. Traders take calculated risk. And some methodologies for undertaking this endeavor are much better than others. But in the end, there are no certainties. If you require certainty - I can't think of a worse place to look for it as trading markets. Find a government job with a union, perhaps ?
Inaccurate analogy. Everyone uses indicators to say like if you are going 55mph and it says you are traveling at that speed it means you are going to keep traveling at that speed.
In my experience, volume is predictive. I have written code to back test this, and it is profitable. The general rules are: 1. If volume and price are both rising, price is likely to continue rising. 2. If volume and price are both falling, price is likely to turn around. 2. If volume is rising and price is falling, price is likely to continue falling. 3. If volume is falling and price is rising, price is likely to turn around. I have tested this only on daily bars and 30-minute bars.
The above in combination with the ten price cases forms a solid foundation in understanding the PV relationship.
Pete Steidelmeyer’s Market Profile is an excellent market behavioral system that incorporates the TIME element.