Para ser neutral y aclarar un poco esto, digamos que tampoco es tan directa la relación precio-volumen-tendencia.
Una buena herramienta es
PVO -
Price Volume Oscillator- pero se debe tomar en períodos de mediano plazo y "filtrar" perturbaciones estacionales, feriados, fines de año, balances, noticias, etc. (en el caso de papeles)
PVO se debe utilizar para evaluar la presión compradora o vendedora
teniendo en cuenta la evolución del precio, pero
nunca correlacionar
PVO directamente con la evolución del precio.
Price Volume Oscillator (PVO)
The PVO is primarily used to identify periods of expanding or contracting volume.
Centerline Crossovers: The PVO oscillates above and below the zero line. A PVO above zero indicates that volume levels are generally above average and relatively heavy. When the PVO is below zero, volume levels are generally below average and light. When PVO is positive, the shorter EMA of volume is greater than the longer EMA of volume. When PVO is negative, the shorter EMA of volume is less than the longer EMA of volume.
Directional Movement: The general overall direction of the PVO gives the trader a visual of market momentum and direction. A rising PVO signals volume levels are increasing, and a falling PVO signals volume levels are decreasing.
Moving Average Crossovers: The last variable in the PVO forms the signal line. For example, PVO (12,26,9) would include a 9-day EMA of PVO as well as a histogram representing the difference between the PVO and its 9-day EMA. When PVO moves above its signal line, volume levels are generally increasing. When PVO moves below its signal line, volume levels are generally decreasing.
Movements in the PVO are completely separate from price movements. Movements in PVO can correlate with price movements to assess the degree of buying or selling pressure.
