I attended some workshop yesterday and I noticed that one of the presenters had an indicator titled 'price ratio' and had DVOL and UVOL as the inputs.
From some deduction, I see that it was basically looking at the ratio of down by up volume on the NYSE exchange; he had a few levels marked as well (which I've also marked on this indicator).
Seems like an...
The SPX Intraday Mood Indicator tries to gauge the intraday market direction of the S&P 500 (SPX) by focusing on internal market data.
Based on the 0DTE Mood Indicator concept. Overall strength/weakness is converted into a directional Mood Percentage which can help with choosing a trade type.
Use at your own risk and discretion. Potential trade ideas offer no...
I liked the style of one of Noldo's scripts pertaining to Put/Call ratio so I adapted my existing UVol / DVol ratio script using his code from
I am also reducing the number of securities referenced to only Nasdaq which speeds up displaying
The yellow bars are meant to represent stagnant volume, with green / red representing strong up or down volume.
Note the...
Plots the NYSE, NASDAQ, AMEX UP Volume and DOWN Volume ratios as a histogram - and adds the index UVOL / DVOL ratios as a line graph.
DVOL is represented as negative - UVOL as positive. When either is above 2 its a good predictor of the day's outcome. At least - it tells you if the bulls or bears are winning the day.
Really simple to use / edit to your needs
Enjoy
