Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Daily Volume Index

Score

-1.55

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 7 51.1 0.14% 0.14% 0.0% -13.3% -93.1%
SHORT 8 31.3 0.38% 0.60% 22.2% -10.0% 16.5%

Summary

Technical Analysis

Metals X (MLX.AX)


Indicator:

DAILY VOLUME INDEX


Last Signal:

BEARISH


Trading: SELL @ $0.165
Signal Strength: MEDIUM
Recommendation:

Metals X (ASX:MLX) current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the DVI is -26908.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


The daily volume index (DVI) is the amount of individual securities traded in a day on average over a specified period of time. Trading activity relates to the liquidity of a security. When average daily trading volume is high the stock can be easily traded and has high liquidity if trading volume is not very high and the security will tend to be less expensive because people are not as willing to buy it. As a result average daily trading volume can have an effect on the price of the security.

Calculation: Daily Volume Index (DVI):
1) [Close]-[Average price] / [Average price] x [Volume];


PROFILE: Metals X (MLX.AX)


Stock Exchange: ASX
Company: Metals X
Ticker Codes: | MLX.AX | ASX:MLX |

About Metals X (ASX:MLX):

Metals X Limited engages in the operation of tin and copper mines; and exploration and development of base metals projects in Australia. It operates through Renison Tin Operations, Wingellina Nickel Project, Nifty Copper Operations, and Maroochydore Copper Project segments. The company holds a 50% interest in the Renison tin project located the west coast of Tasmania; and interest in the Nifty copper project and the Maroochydore copper project in Western Australia. It also holds 100% interests in the Central Musgrave project that covers an area of 1,957 square kilometers of exploration tenure, including the Wingellina nickel deposit, the Claude Hills nickel deposit, and the Mt Davies exploration prospects located in the Central Musgrave Ranges. Metals X Limited was incorporated in 2004 and is based in Perth, Australia.

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Daily Volume Index

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LLC Lend Lease Corporation 16.75 4.8 12,294,407 -34 BEARISH
BPT Beach Petroleum 2.25 4.7 10,365,280 -11,738 BEARISH