BitDoctor Volume Analysis

This indicator is built on Volume and analyzes up and down volume to give you a birds eye view what kind of pressure the market has. There are several factors that go into this indicator:

UP Volume
The majority of volume for the duration of the candle was moving up.

DOWN Volume
The majority of volume for the duration of the candle was moving down.

WICK analysis
The wicks of the candles tell a story so extra analysis is given to the size of the wicks to determine absorption.

Basing the data off the high and low compared to the open and close, there's decent probability that up and down volume can be captured. There are many options available with this script as well. It will show icons to determine momentum to help traders make informed decision on the volume in the move.

Release Notes

Scripts have been updated to adhere to Trading View version 5 requirements. No functionality changes.

Release Notes

Implementation of custom candle colors (as an option). These colors are based on the following details:
DARK BLUE - Price action is bullish and has positive momentum
DARK ORANGE - Price action is bearish and has negative momentum
LIGHT BLUE - Conditions are improving
LIGHT ORANGE - Conditions are deteriorating
CYAN - Improving w/ Positive momentum
MAGENTA - Deteriorating w/ Negative momentum

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact bitdoctor directly.

Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Visit our website to gain access to this indicator.

Warning: please read our guide for invite-only scripts before requesting access.

bitdoctor

CE - BitDoctor

Access our private indicators and join our Premium Room: bitdoctor.org

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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.