When trading one often observes a lot of action without knowing which direction the prices are to move.
Obviously, no one wants to trade huge amounts at once and undesirably moving the market. Instead the trades are executed continuously with "smaller" amounts thereby hiding the large position, allowing oneself to trade at the desired price without shifting the market.
Has anyone some good procedures on how to "detect" what the volume says about the price direction?
Obviously, one can simply visualize all the volume traded on the bid side contra all the volume traded on the ask side, plotting a simple bar-chart. But this seems rather naive.
The tool should be running continuously and therefore incorporating all current trades.
I'm not searching for "exotic" or "academic" calculations but rather something that is simple, easy to understand and implement.