The Split Volume indicator displays 'Upwards' and 'Downwards' volume with an additional method for distributing 'split' candle volume.
A 'split' candle is a candle whose direction is...'Split'...since the open and close are equal. (Ex. Doji)

Upwards and Downwards Volume is tracked by comparing the Open and Closes of the Lower Timeframes.
  • If the Close is Greater-than the Open, we track the Volume as 'Upwards' Volume.
  • If the Close is Less-than the Open, we track the Volume as 'Downwards' Volume.
  • If the Close and Open are Equal, we assume that the Volume is an even split 50/50, and track it as such.
The indicator pulls data from lower timeframes to achieve more granular Open,Close,& Volume Data
<5m Timeframe: 1 Second LTF
<60m Timeframe: 5 Second LTF
<1D Timeframe: 1 Minute LTF
>1D Timeframe: 60m LTF

We have also included some nice-to-have features
  • 50% Volume Line: This line splits each columns in half, this is used as quick reference to see exactly which side the volume is on.
  • High Volume Candle Identification: We are detecting bars with high relative volume and coloring them on the upper chart for use as important zones.
  • Status Line Readouts: The Status line for this indicator is formatted for simple reading. It Reads(Left-to-Right):Total Volume, Downwards Volume, 50% Value, Upwards Volume

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?