OPEN-SOURCE SCRIPT
UVOL / DVOL Ratio
Plots the NYSE, NASDAQ, AMEX UP Volume and DOWN Volume ratios as a histogram - and adds the index UVOL / DVOL ratios as a line graph.
DVOL is represented as negative - UVOL as positive. When either is above 2 its a good predictor of the day's outcome. At least - it tells you if the bulls or bears are winning the day.
Really simple to use / edit to your needs
Enjoy
DVOL is represented as negative - UVOL as positive. When either is above 2 its a good predictor of the day's outcome. At least - it tells you if the bulls or bears are winning the day.
Really simple to use / edit to your needs
Enjoy
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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