danarm

Upvol and Downvol

Upvolume and downvolume, calculated according to the MFI ( Money Flow ) formula, and shown separately.

The indicator has options for also showing NYSE upvolume and downvolume or ES1! ( S&P500 upvolume/downvolume) along with the main ticker data, so you can compare them.

The chart can be analyzed by drawing trend lines , and can be surprisingly accurate.
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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.

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.

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