In my understanding, we must consider volumes, along with the length of the bars. on the same chart, the move from 8300 to 8500 shows higher volumes, probably because candle lengths were larger (larger moves in same time frame). So this is my interpretation (i may be completely wrong)
- volume data to be considered/compared, along with the length of the candle, this can also be done, by moving to a higher time frame for clarity.
- on days / levels of low participation, market movers swing nifty to wider price range to add volumes / participation.
- i am still looking for tools, where the candle length / volume analysis can be done in a simpler way. if anyone has access to such tools, please share
