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OPEN-SOURCE SCRIPT

VOLD Indicator

By viewer405
Updated
Similar to the USI:TICK and USI:ADD, the USI:VOLD index shows the volume of the advancing stocks versus the volume of the declining stocks. Ideally, we want to see the ratio of VOLD being higher than usual. A way to see this ratio will be forthcoming. Stay tuned!
Release Notes
  • Added ratio of volume between advancing versus declining stocks in upper right side of table.
  • You can now plot the aforementioned ratio as a histogram by selecting "ratio" under the "Candle Style".
  • Added checkbox to enable/disable threshold lines in a single click It is "off" by default.
  • Other minor bug fixes.
Release Notes
Simplified the indicator to provide exactly what you're looking for in this indicator:

  1. the raw VOLD data
  2. the VOLD ratio


Added tooltips to the indicator settings and simplified the options.
Release Notes
Here's an attempt at creating a VOLD ratio for the DAX 40 index. Because of TradingView's limit of no more than 40 securities requests per script, and given that the script is already making 6 other requests, I had to exclude 6 securities from the DAX VOLD ratio, listed below. Their weight on the index is 0.7 or lower. All the other securities were gathered from the list in Wikipedia (en.wikipedia.org/wiki/DAX).

  1. CON.DE 0.6
  2. 1COV.DE 0.6
  3. PAH3.DE 0.6
  4. HEI.DE 0.7
  5. ENR.DE 0.7
  6. ZAL.DE 0.7
Release Notes
For performance improvements, I've moved the VOLD calculation for the DAX 40 Index to it's own separate indicator. Please see the following if interested:
VOLD Indicator (DAX)
VOLDVolume

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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