Measures buying and selling pressure over a given lookback period.
As described at traders.com/Document.../10/TradersTips.html
See also:
- Are price updates a good proxy for actual traded volume in FX? <https://www.fxstreet.com/education/are-price-updates-a-good-proxy-for-actual-traded-201104220000>
- Using Tick Volume in Forex: A Clear NVO Based Example <http://mechanicalforex.com/2010/08/using-tick-volume-in-forex-clear.html>
As described at traders.com/Document.../10/TradersTips.html
See also:
- Are price updates a good proxy for actual traded volume in FX? <https://www.fxstreet.com/education/are-price-updates-a-good-proxy-for-actual-traded-201104220000>
- Using Tick Volume in Forex: A Clear NVO Based Example <http://mechanicalforex.com/2010/08/using-tick-volume-in-forex-clear.html>