I read a lot on here but don't post much but was interested in picking the brains of the experts. One of the charts I have now included on my chart section is the weight of money. Which I understand is the sum of the money on offer on the back side divided by the total sum of the money on offer on the back and lay side. But I was just wondering how it should be read in general as a trading signal, I obviously wouldn't use it alone I am thinking it would make sense if the WOM was over 50% its a back signal and less than 50% a lay signal. Is this presumption correct.
Also I have the Average WOM. Would this be just a less sensitive version of WOM in regards to time or does a WOM below or above the average WOM mean some back or lay signal in trading terms.
Please don't think I'm using just WOM for trading its just that I like getting experience trading but I also like to know the technical reasons behind stuff too.
Thanks for your time all.
