Hey! This time I'm going to introduce you to an indicator which catches volume spikes and its respect price change, to give an idea of the following price action. The logic is pretty simple: Value > 1 : High Volume that changed a lot the price, next price action will follow that trend. Value < 1 : Low volume that changed a lot the price, trend is weak. Value = 1 : Volume and price change is balanced, trend would continue based on the previous values.
If you have any doubt just comment!
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Update: I made a change on the formula to make it oscillate more between -1 and +1. Can also go further than +1 I'm still optimizing it's performance, so I won't call for a strategy lecture this time. Gonna update soon. Focus on volume spike detection to support other indicators.