//@version=5
indicator("Up/Down Volume", "Up/Down Vol", format=format.volume)
lowerTimeframeTooltip = "The indicator scans lower timeframe data to approximate Up/Down volume. By default, the timeframe is chosen automatically. These inputs override this with a custom timeframe.
\n\nHigher timeframes provide more historical data, but the data will be less precise."
useCustomTimeframeInput = input.bool(false, "Use custom timeframe", tooltip = lowerTimeframeTooltip)
lowerTimeframeInput = input.timeframe("1", "Timeframe")
upAndDownVolume() =>
posVol = 0.0
negVol = 0.0
switch
close > open => posVol += volume
close < open => negVol -= volume
close >= close[1] => posVol += volume
close < close[1] => negVol -= volume
[posVol, negVol]
lowerTimeframe = switch
useCustomTimeframeInput => lowerTimeframeInput
timeframe.isintraday => "1"
timeframe.isdaily => "5"
=> "60"
[upVolumeArray, downVolumeArray] = request.security_lower_tf(syminfo.tickerid, lowerTimeframe, upAndDownVolume())
upVolume = array.sum(upVolumeArray)
downVolume = array.sum(downVolumeArray)
delta = upVolume + downVolume
plot(upVolume, "Up Volume", style = plot.style_columns, color=color.new(color.green, 60))
plot(downVolume, "Down Volume", style = plot.style_columns, color=color.new(color.red, 60))
plotchar(delta, "delta", "—", location.absolute, color = delta > 0 ? color.green : color.red, size = size.tiny)
var cumVol = 0.
cumVol += nz(volume)
if barstate.islast and cumVol == 0
runtime.error("The data vendor doesn't provide volume data for this symbol.")
Overview
Up/Down Volume uses intrabar price movement to classify volume as positive or negative, plotting positive volume as green columns and negative volume as red columns in a separate pane. It also displays a net volume delta marker colored by balance. Users can allow the script to automatically select the lower timeframe or specify a custom intrabar timeframe.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Use custom timeframe
bool
false
useCustomTimeframeInput
Timeframe
timeframe
1
lowerTimeframeInput
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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