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this indicator , GomBidAskPVbyJackH is for followers of 'volume leads price' school. PV stands for Price Volume relationship.
The indicator is like a 3D puzzle watch the clip starts at 6:50 and take note so you won't miss finer details.
clip: youtube.com/watch?v=6IvuDv_cD5Q
this is similar, but the same time very different than the traditional delta divergence indicator. those 2 indicators will never give you the same signal (opposite use of delta).
here's a comparison. the delta divergence indicator has numbers (delta) and the pv indicator uses letters (buy, sell). lots of signals, but with some confirmation tools like vwap, dom etc, I believe both indicators can be useful. but again, I would only use range charts for this purpose
another comparison between the price/volume and delta divergence indicator. they both do a pretty good job detecting swing highs and lows. so far today, the price/volume indicator has the lead...
like mentioned before, you still need other tools for confirmation. can't just blindly take every signal