Hancock - PVO Plus

Estimates the buy and sell volume of each candle by using a configurable lower time-frame and creates a momentum oscillator for buy and sell volume , PVO .

This indicator shows higher than normal volume when the silver line cross above 0 and lower than normal when below. The green and red oscillators give an indication of trend direction where the wider they are the stronger the trend.

Happy trading
Release Notes: Added an option to calculate buy and sell volume weighted by wicks. This assumes the most obvious formation of the wicked candle and is turned on by default.
Release Notes: Fixed issue preventing chart from plotting with higher time-frames using 15m resolution.
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.

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