Buyers & Sellers / Range

Buyers & Sellers / Range
Volatility oscillator that measures the relationship of Buying & Selling Pressure to True Range.
In other words, how much % Buyers and Sellers separately occupy the Bar
BSP is a part of Bar Range. Entire bar metrics will always have bigger value than its composite elements (body and wicks).
Since there will be NO chance of BP or SP being more than ATR, their ratio would serve crucial Volatility details.

Hence, we can relate each of them to the overall range.

As a result we have simultaneous measurements of proportions buyers and sellers to the bar.
Default mode shows BP/ATR and SP/ATR mirrored. When one rises, the other falls to compensate.
  • Buying Pressure / True Range ⬆️🟢 ⬇️🔵
  • Selling Pressure / True Range ⬆️🔴 ⬇️🟠

They are being averaged in 2 different ways:
  • Pre-average first, then relate as ratio
  • Related first, then Averaged
Enable "Preaveraged" to use already averaged BSP and Ranges in ratio instead of averaging the ratio of BSP to individual bar. For example, we're looking BP/ATR, in calculation of buyers / Range it will use "MA(Buying Pressure) / MA(True Range)" instead of "MA(Buying Pressure / True Range)".
Due such calculation, it is going to be more lagging than in off mode. Nevertheless, it reduces noise from the impact of individual bar change.

Second way of noise reduction is enabling "Body / Range"
BSP Body / Range where Bullish & Bearish Body = Buying & Selling Pressure - Relevant Wick
  • Buying Body = Buying Pressure - Lower Wick
  • Selling Body = Selling Pressure - Upper Wick
And only then it is divided to ATR.
Note that Balance line differs because body is less than it used to be with wicks. So change in wicks won't play any role in computing the ratio anymore. Thus, signals of their crossings will be more reliable than in default mode.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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.

Want to use this script on a chart?