Yep, off market trading needs to isolated if possible for a couple of good reasons.
Firstly, because the actual trading for the day does not relate to that volume.
For instance, what do you think would have happened with the price action, if all that volume was placed on market that day, and had to be completely sold by the close of trade ?? would the bars spread and closing position be the same ??
I think probably not......
and secondly, although the actual transaction was announced that day, the money may have been transferred a day or two earlier, and the transaction may have been agreed upon a few days (or weeks) prior to that. So the announcement date may not be the correct day for that extra volume at all.
So which day do do we use ??
What we really want to analyze, is "what actually happened when a certain amount of volume was traded", when that is placed into context with the rest of the chart.
