OPEN-SOURCE SCRIPT
Updated Up/Down Vol Ratio
The Up/Down Volume Ratio is a tool utilized by investors.com. They describe it as "A 50-day ratio that is derived by dividing total volume on up days by the total volume on down days. A ratio greater than 1.0 implies positive demand for a stock."
It is best used to confirm buying or selling pressure in your stock in conjunction with price analysis.
Acknowledgment
The formula is obtained from the investors.com education section: [url=education.investors.com/financial-dictionary/ibd-terms/up-slh-down-volume-ratio ]education.investors.com/financial-dictionary/ibd-terms/up-slh-down-volume-ratio
Thank you to JohnMuchow for upgrading my code for best practices when publishing.
It is best used to confirm buying or selling pressure in your stock in conjunction with price analysis.
Acknowledgment
The formula is obtained from the investors.com education section: [url=education.investors.com/financial-dictionary/ibd-terms/up-slh-down-volume-ratio ]education.investors.com/financial-dictionary/ibd-terms/up-slh-down-volume-ratio
Thank you to JohnMuchow for upgrading my code for best practices when publishing.
Release Notes
Version 2.0■ Added an option to highlight the indicator background if it is equal to or greater than a set value.
Release Notes
Update allows the timeframe of the indicator to be adjusted from the default 50 days to any length. 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.
Get access to CarusoInsights indicators: carusoinsights.com/charting/
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.
Get access to CarusoInsights indicators: carusoinsights.com/charting/
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.