This indicator shows a better view of Volume by splitting it into Buying and Selling Volume. This allows you to see are the bulls or bears in-control in relation to the overall Volume.
Great script! I made one small change to give it some more accuracy I think, matches Carmine Rosato's indicator on ThinkorSwim if anyone is looking for that.
@KnowHao, ok does it matter the line number or just copy and paste on the last line, please understand i am a novice therefore i may need a little details than most,
Friend do i just copy and paste this into the last line? As simple just copy and pasting anywhere hasn’t helped with other indicators,
adi1334
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@KnowHao, hey thanks for this, can you add an option for moving average pls? for analysing relative volume...
czach41stonks
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@KnowHao, this is exactly what I was looking for as a student of Carmine's videos... big thank you.
BobaBui
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Can’t thank you enough for making this!
flamingstudios
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Just a note about this indicator. It plots a bar of the buying volume, and then plots the selling volume over the buying volume. This makes it inaccurate. The correct way to plot this is to plot the total volume (as a green bar), and then the selling volume over it. (and whatever is left visible of the total's volume green bar is the buying volume). The 2 code variations in the comment address this and should be used instead.
kovalev241987
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Серьезно? то-есть объем покупок и продаж у Вас вычисляется не по книге покупок/продаж, а от объёма и от цен открытия и закрытия? и в чем смысл? можно с тем же успехом работать по пин барам
study(title='VolumePressure', precision=1, overlay=false)
var COLOR_UP=#26a69a
var COLOR_DOWN=#ef5350
buyingVolume = round(volume * (close - low) / (high - low))
sellingVolume = round(volume * (high - close) / (high - low))
Volume = volume
plot(series=Volume, style=plot.style_columns, color=COLOR_UP)
plot(series=sellingVolume, style=plot.style_columns, color=COLOR_DOWN)