NYSE VOLD Ratio

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The UVOL/DVOL Two-Sided Ratio Histogram is a custom indicator that visualizes the relationship between the up volume (UUVOL) and down volume (DDVOL) on any given chart timeframe. The indicator dynamically adjusts to the chart’s timeframe and displays the ratio of UUVOL to DDVOL in a histogram format, making it easy to spot when the up volume exceeds down volume (and vice versa).

The ratio is calculated as follows:

If UUVOL > DDVOL: The ratio is UUVOL / DDVOL, displayed as a positive bar.
If DDVOL > UUVOL: The ratio is DDVOL / UUVOL, displayed as a negative bar.
This approach allows traders to quickly gauge market sentiment by comparing buying volume to selling volume. The indicator is centered around a zero line, where:

Positive bars indicate that up volume is stronger than down volume.
Negative bars indicate that down volume is stronger than up volume.
Features:
Dynamic Timeframe: Automatically adjusts to the chart’s selected timeframe.
Two-Sided Histogram: Displays positive and negative bars based on the UVOL/DDVOL ratio.
Zero Reference Line: A clear horizontal line at 0 to help identify shifts in volume dominance.
Easy Volume Sentiment Analysis: Quickly spot trends in market buying vs. selling pressure.
Use Case:
This indicator is ideal for traders who want a quick, visual representation of market sentiment by comparing volume on the upside (buying pressure) versus downside (selling pressure). It can be used for identifying strong buying or selling pressure and potential reversal points.

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Here's a detailed description for your NYSE VOLD Ratio indicator that you can use when publishing it:

NYSE VOLD Ratio Indicator
Description: The NYSE VOLD Ratio Indicator measures the relationship between up volume (UUVOL) and down volume (DDVOL) on the NYSE. This indicator is essential for traders and investors looking to gauge market breadth and sentiment by analyzing the volume of shares traded in an upward versus downward direction.