Effective Volume was described in the book “Value in Time” by Pascal Willain. Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute time-frame looking for high volume transactions. For using the indicator, if the red line goes up, large players are buying on average, if it goes down, they are selling.

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