After a while i come back to check how is going this exchange founded by Jered Kenna in June. The volume increased after the first two months of sluggish activity; also here we have a confirmed buy signal from the inverse RSI fisher transform indicator and the weekly moving average that reversed this week.
Compared to the MtGox the price action is more stable because volatility doesn’t change so much like in the other one japanese exchange, probably because large players aren’t trading at Tradehill.
Recently i’m starting to observe better the volume activity on these bitcoin exchanges (virwox included) instead of looking only the MtGox. It is important, as i said in the bitcoin forum yesterday, to observe the Net Volume and not only the volume raw value. To compute the Net Volume we should do the difference beetween volume made on an Uptick and volume made on a Downtick for a particular bar (daily weekly or whatever you want). So watching carefully the net volume and how it develops with the pass of time is possible to better understand if this pressure is positive or negative and where it is headed. In this particular case, at TradeHill, the net volume started to become positive well before the market reversal giving to the smart investor a nice hedge.
At the moment the only way to compute the Net Volume is using the Sierrachart platform and the plugin made by Slush to grab data from bitcoincharts.com , then you can add to the chart the uptick downtick indicator, eventually export the data to excel for further data processing.