Volume Strength Finder — Indicator by Saravanan_Ragavan

volumestudies volume volumeprofile volumespreadanalysis volumeanalysis volumeindicator

Generally, Volume indicator shows total Volume of a candle. In this Volume Strength Finder Indicator, I tried to separate Strength of buyers and sellers based on the candle stick pattern. Calculating Buyer and Seller Strength each and every candle of the day based on the pattern formation.

High - close => Buyers
Close - low => Sellers

in this way, cumulative volume separates for buyer and sellers and comparing with total volume of the day and showing results.

if buyer strength more than seller, candle bar color remains green even a candle is negative candle(Open>close) and wise versa.

Note: This is for Education Purpose only.

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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