This is an updated version of the Accumulated P/C Ratio. Some changes include: - Pinescript privacy changed from protected to open. - Utilizes the "request.security_lower_tf" function for weekly and monthly charts. - Now acquires and sums raw put volume (ticker: PVOL) and call volume (ticker: CVOL) separately, then divides the aggregate put to aggregate call to get the P/C ratio, as opposed to the original version which directly sums the put call ratio (ticker: PCC). Mathematically this calculation makes more sense, but the major drawback of this change seems to be that PVOL and CVOL don't have as much historical data as PCC.
The way to interpret the indicator is the same as the original version - higher values are bullish while lower values are bearish. A solid (0 transparency) bar means that the value is beyond 3 standard deviations within a particular period.
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Update: Put volume data is now unavailable in TradingView, so put volume is estimated by (Put/Call Ratio)*(Call Volume) for SPX.
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Updated screenshot.
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Previously put volume was removed from Tradingview, but now it has been added back again. Newest code has thus been updated to request the put volume for SPX, ticker: PVSPX.
this script not working, showing esclamation mark.
sonibit20
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Nice indicator
Genghis_39
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I've struggled with the raw Put/Call ratio plot for a while; this is vastly superior. Thanks so much.
Sagittaire7
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Incredible job! Thank you for releasing open source as well.
a25forex
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now we do not have cvol and pvol, what can we use instead?? btw incredible indicator!
skiviz
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@a25forex, Thanks for notifying me on this issue. It appears that TradingView removed all put volume from their database, so the previous code can't request put volume anymore. To get around this issue, the new code estimates put volume by: (Put/Call Ratio)*(Call Volume). That way put volume and call volume can be separately acquired for subsequent summation calculations.