For each bar in the range, volume is apportioned between buyers and sellers according to price movement distances. The indicator displays an informational label and a horizontal range line directly on the price chart, detailing the volume breakdown, up and down candle counts, and percentage difference. Key inputs allow adjusting the lookback length and label colors. Computations execute on the last bar.
Intrabar buying and selling volume estimation
Configurable lookback bar period
On-chart summary label with volume metrics
Visual range span line spanning the analyzed window
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Lookback period
int
20
lbp
Up Volume
color
#0098b3
upvolbg
Down Volume
color
#e9b60d
dnvolbg
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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