Not advice Educational reference only — nothing here predicts a price. What the measured outcomes are · Sources

Reference appendix

Volume & money flow

Indicators combining price with trading volume, to judge whether a move has real participation behind it.

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How these fit together

Volume is the evidence behind every other signal on a chart, and this page contains three different ways of using it. The cumulative lines — OBV, A/D and PVT — run a running total and are read only for slope and divergence, never for their level. The oscillators — CMF, MFI and the Chaikin oscillator — compress that same data into a bounded reading you can compare with RSI. And the price-based tools — VWAP and the volume profiles — answer a question none of the others do: not when the trading happened, but at what price. Where those price levels agree with a pivot or a moving average, traders treat the confluence as much stronger than any of them alone.

  • Cumulative: OBV, A/D, PVT — slope and divergence only, the level is arbitrary
  • Oscillators: CMF, MFI, Chaikin — bounded, comparable, directly readable against RSI
  • Price-based: VWAP and volume profile — they answer at what price, not when
  • A/D → CMF → Chaikin oscillator — raw, averaged, then differenced: the same story at three speeds
  • OBV and A/D disagreeing → strong closes with weak intraday ranges, or the reverse
  • Breakout without a volume expansion → the single most common reason a pattern fails

Volume

Volstudied

The number of shares (or contracts) traded during a given period — used to judge whether a price move has real participation behind it or is likely to fade.

Typical setting: none (often with a 20-period average)Open →

On-balance volume

OBVstudied

A running total that adds the period's volume when price closes up and subtracts it when price closes down, showing whether volume is flowing into or out of a security ahead of price confirming the move.

No settings to tuneOpen →

Accumulation/distribution

A/Dstudied

A volume-weighted line based on where the close falls within the day's high-low range, meant to show whether a security is being accumulated (bought) or distributed (sold) over time.

No settings to tuneOpen →

Chaikin money flow

CMFuntested

Averages the Accumulation/Distribution concept over a set period into a single oscillator, showing sustained buying or selling pressure rather than one day's reading.

Typical setting: 20 or 21Open →

Chaikin oscillator

CHOuntested

The MACD of the Accumulation/Distribution line — the difference between a fast and slow EMA of A/D — used to spot momentum shifts in volume flow.

Typical setting: 3, 10Open →

Force index

FIuntested

Multiplies the change in price by volume for a period, combining how much price moved with how much volume backed the move into one reading of buying/selling force.

Typical setting: 1 (raw) or 13Open →

Elder force index

EFIuntested

A smoothed (typically EMA-averaged) version of the Force Index, reducing noise while still capturing the combined price-and-volume force behind a move.

Typical setting: 13Open →

Price volume trend

PVTuntested

A running cumulative total similar to OBV, but weighted by the percentage price change each period rather than adding or subtracting full volume — so large price moves count more.

No settings to tuneOpen →

Negative volume index

NVIuntested

Tracks cumulative price changes only on days when volume falls versus the prior day, based on the idea that informed “smart money” trading tends to happen on quieter, lower-volume days.

Typical setting: cumulative, with a 255-period EMA signalOpen →

Money flow index

MFIstudied

A volume-weighted version of RSI, combining price and volume into a 0–100 reading of buying/selling pressure — often called the “volume RSI.”

Typical setting: 14Open →

Market facilitation index

MFI (mkt.)untested

Not to be confused with the Money Flow Index above — this divides the period's price range by its volume, gauging how efficiently the market is moving price per unit of volume traded.

No settings to tuneOpen →

Williams accumulation/distribution

Williams ADuntested

A momentum-style line related to price and volume, built with a different formula than Chaikin's A/D, used similarly to spot divergence between price and underlying accumulation or distribution.

No settings to tuneOpen →

Volume profile

Vol. Profileuntested

A histogram, drawn sideways on the price axis, showing how much volume traded at each price level over a chosen period — useful for spotting where the most trading activity (and likely support/resistance) has occurred.

Typical setting: rows (24–100), value area 70%Open →

Session volume profile

Session VPuntested

A Volume Profile calculated separately for each individual trading session, rather than pooled across many days.

Typical setting: per session; rowsOpen →

Visible range volume profile

Visible VPuntested

A Volume Profile calculated only from the price bars currently visible on the chart, updating as you scroll or zoom.

Typical setting: visible bars; rowsOpen →

Volume-weighted average price

VWAPdefined

The average price for the period, weighted by volume at each price level, so high-volume trades count more. Traders compare price to VWAP to judge whether they're paying above or below the “fair” average for the session.

Typical setting: session-anchored; bands at 1, 2, 3 deviationsOpen →

Auto-anchored VWAP

Auto VWAPuntested

A VWAP that automatically resets from a significant reference point — like the start of a session or a major swing high/low — instead of a manually chosen start time.

Typical setting: anchor: session, swing high/low, earningsOpen →

How to read the evidence tag

Every entry here carries one of three tags. The tag rates the evidence behind the claim the entry makes — not how popular the tool is, how old it is, or how confident the people teaching it sound. Close to half of the entries on this site sit on the weakest tier — including every one of the eighteen Smart Money Concepts, which are drawn here in the same ink as Wilder’s ADX and deserve to be told apart from it. That is the honest position rather than an oversight.

  • defined33 entries

    True by arithmetic. This entry describes a calculation or a piece of terminology, and makes no claim about what price will do next. Nothing here can be wrong except a typo.

  • studied56 entries

    The predictive claim attached to this entry has been tested in peer-reviewed research. Being on this tier does not mean it works — across the literature these edges are typically small, unstable between markets and periods, and often gone after costs.

  • untested87 entries

    Widely taught and widely believed, but no published test of the claim was located while building this page. Treat it as a description of what traders do, not as evidence that doing it pays.

The line between studied and untested is drawn by whether a peer-reviewed test of the specific claim could be found, and those tests are listed on the Sources page under “Evidence and base rates”. If you know of a published test of something tagged untested, the tag is wrong and should change — that is the point of labelling it at all.