This ProRealTime indicator shows the volume strength. It also take into account intra and interday price action. It is thus unique from other indicators as it also uses volatility to determine the indicators development.
A strong signal is when the indicator and price does not correlate, such as they don’t both make higher highs or lower lows.
A normal reading is the slope of the indicator. If the Volume Strength Index rises it means that buyers are in control and we can expect a bull period, and vice versa.
Values above zero also means that buyers are in control and that accumulation is taking place. If below zero than sellers are more desperate, distribution.
The crossing of the zero line also tells a strong message in that sentiment has changed, this can act as a confirmation signal or a real buy/sell signal.