OPEN-SOURCE SCRIPT
VOLD Delta & VOLD Ratio
Description:
This script provides a comprehensive analysis of market sentiment by measuring the VOLD Delta and VOLD Ratio for both the NYSE and NASDAQ. It includes:
VOLD Delta Calculation: Measures the net volume difference between up volume (UVOL) and down volume (DVOL), normalized to millions. This helps identify significant buying or selling pressure in the market.
VOLD Ratio Calculation: Calculates the ratio of up volume to down volume, offering insights into the balance between buying and selling activity.
Combination of NYSE and NASDAQ Data: Utilizes UVOL and DVOL for NYSE, and UVOLQ and DVOLQ for NASDAQ to provide a more comprehensive view of market sentiment.
User Selection: Toggle between displaying VOLD Delta or VOLD Ratio based on your preference.
Dynamic Coloring: Colors the histogram bars green for positive values and red for negative values, making it easy to visualize market sentiment at a glance.
Implications for Understanding Market Sentiment:
Identifying Buying Pressure: A significant positive VOLD Delta indicates strong buying pressure, suggesting that the market sentiment is bullish. The corresponding green histogram bars make it easy to identify these periods.
Identifying Selling Pressure: A significant negative VOLD Delta indicates strong selling pressure, suggesting that the market sentiment is bearish. The corresponding red histogram bars highlight these periods.
Balance Between Buyers and Sellers: The VOLD Ratio helps identify the balance between buyers and sellers. A ratio greater than 3 indicates significant buying, while a ratio less than 0.5 indicates significant selling. Ratios close to 1 suggest a balanced market.
Real-Time Market Insights: By combining the VOLD Delta and VOLD Ratio, traders can gain real-time insights into market sentiment and make more informed trading decisions based on the volume activity on the NYSE and NASDAQ.
This script is a powerful tool for traders looking to stay informed about intraday market sentiment and make data-driven trading decisions.
This script provides a comprehensive analysis of market sentiment by measuring the VOLD Delta and VOLD Ratio for both the NYSE and NASDAQ. It includes:
VOLD Delta Calculation: Measures the net volume difference between up volume (UVOL) and down volume (DVOL), normalized to millions. This helps identify significant buying or selling pressure in the market.
VOLD Ratio Calculation: Calculates the ratio of up volume to down volume, offering insights into the balance between buying and selling activity.
Combination of NYSE and NASDAQ Data: Utilizes UVOL and DVOL for NYSE, and UVOLQ and DVOLQ for NASDAQ to provide a more comprehensive view of market sentiment.
User Selection: Toggle between displaying VOLD Delta or VOLD Ratio based on your preference.
Dynamic Coloring: Colors the histogram bars green for positive values and red for negative values, making it easy to visualize market sentiment at a glance.
Implications for Understanding Market Sentiment:
Identifying Buying Pressure: A significant positive VOLD Delta indicates strong buying pressure, suggesting that the market sentiment is bullish. The corresponding green histogram bars make it easy to identify these periods.
Identifying Selling Pressure: A significant negative VOLD Delta indicates strong selling pressure, suggesting that the market sentiment is bearish. The corresponding red histogram bars highlight these periods.
Balance Between Buyers and Sellers: The VOLD Ratio helps identify the balance between buyers and sellers. A ratio greater than 3 indicates significant buying, while a ratio less than 0.5 indicates significant selling. Ratios close to 1 suggest a balanced market.
Real-Time Market Insights: By combining the VOLD Delta and VOLD Ratio, traders can gain real-time insights into market sentiment and make more informed trading decisions based on the volume activity on the NYSE and NASDAQ.
This script is a powerful tool for traders looking to stay informed about intraday market sentiment and make data-driven trading decisions.
نص برمجي مفتوح المصدر
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 publications is governed by House rules. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
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