volak

UVOL / DVOL Ratio

Plots the NYSE, NASDAQ, AMEX UP Volume and DOWN Volume ratios as a histogram - and adds the index UVOL / DVOL ratios as a line graph.

DVOL is represented as negative - UVOL as positive. When either is above 2 its a good predictor of the day's outcome. At least - it tells you if the bulls or bears are winning the day.

Really simple to use / edit to your needs

Enjoy
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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Comments

I see, you are using the tickers DVOL. There are also another tickers available, e.g. DNVOL.NY

Do you maybe know the difference between DVOL and DNVOL.NY?
Reply
hello, looks interesting!
Is it possible to change the instrument? Or can you built it changeable?
Best Tom
Reply
volak tomavientasmo
@tomavientasmo, It uses fixed securities which measure up vol and down vol on the exchanges. Wouldn't make sense to change the instrument because then it wouldn't be measuring up vol and down vol? Little confused by your question.

The indicator will operate the same on all instruments viewed because its not using the current instrument only the specific UVOL and DVOL ones
Reply
@volak, ok ... will check this
thanks for your answer!
Reply
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