Volume Proportion

This indicator uses the circulation of buy and sell volume, calculated proportionally.

We believe that when buy volume becomes excessive, sell positions will begin to be opened. These sell positions must be significant enough to cause the price to pause or decline.

Similarly, when sell volume becomes excessive, buy positions will begin to be opened. These buy positions must be significant enough to cause the price to pause or rise.

When a trigger occurs on either side, we believe that the price is in a significant zone where a change in direction for both the buy and sell sides is likely to happen. In the event of a trigger, if the candlestick's delta volume still favors the opposite side, it is possible that the price may not genuinely rise or fall.

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Thanapongpun

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Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

Thanapongpun