I am trading a mechanical EOD system that enters on sharp selloffs that close well below the short term lower bollinger band, in hopes of capturing a bounce. I've added a number of other filters and exit strategies that make it profitable, but nothing I currently do takes volume into account, and that nags at me. What sort of volume action during these price shock events might indicate the selloff is over, or has gone too far? I have tried looking for volume spikes, volume declines, volume trend increases, OBV trends, etc, but nothing is better than completely ignoring volume. My holding timeframe is only two days, so bear in mind that I'm looking for a bounce, not necessarily a trend reversal. In fact, I'm not even looking for a downtrend as the setup, rather a shock event that should cause a counter-reaction. What does everyone think about this? Would you rather enter a very sharp decline after weak or strong volume, and why?