OPEN-SOURCE SCRIPT
Updated Two colored Up/Down Volume Bars with volume delta plots
This shows Volume Up/Down via 2 colored volume bars !
The delta is in bar plot is the difference between 2 colors.
I found histogram with +ve and -ve values not visually appealing to me. So had to do this method.
Note: Currently TV does not have native U/D function call and has to done via imported v8 library.
The method of up down remain unchanged, and is as it is in the library.
Method.
The 2 colors in colume bars show which side has more pressure. The top portion is the dominant force and the bottom color is the weaker force in that bar.
Line chars are also available via toggle.
Cumulative line chart shows the pressure building over inputted number of days. When the line is facing down, the pressure is easing down and when the line is facing up the pressure is building up. When the lines intersect, that is a trend change direction.
2 line charts are available, cumulative line plot and smoothened line plot.
Comments suggestions are welcome.
The delta is in bar plot is the difference between 2 colors.
I found histogram with +ve and -ve values not visually appealing to me. So had to do this method.
Note: Currently TV does not have native U/D function call and has to done via imported v8 library.
The method of up down remain unchanged, and is as it is in the library.
Method.
The 2 colors in colume bars show which side has more pressure. The top portion is the dominant force and the bottom color is the weaker force in that bar.
Line chars are also available via toggle.
Cumulative line chart shows the pressure building over inputted number of days. When the line is facing down, the pressure is easing down and when the line is facing up the pressure is building up. When the lines intersect, that is a trend change direction.
2 line charts are available, cumulative line plot and smoothened line plot.
Comments suggestions are welcome.
Release Notes
Added description in charts. Shows all 3 modes. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.