Above 0 shows how easy price action is traveling, the bigger these bars the less volume and effort is required to push price. These are indicated with a teal or red arrows and can confirm the beginning or continuation of a trend. This is the natural direction the chart wants to travel at that time.
Below 0 shows how hard price is to move. The bigger these bars the more volume and effort is required to push price. When whales and market makers push price against its will these bars will get bigger.
Yellow arrows signal pressure in that direction and excessive amounts of volume is required to move price. These signals can lead to reversal/ pivot points as price action struggles to continue its trend. These signals can be turned on in settings or use the overlay version of this script to display signals on chart. This is a very powerful tool when used with relative volume.
RVOL Analysis: Shows support and resistance flow over relative volume bars
RVOL: Shows only the resistance flow and highlights anomalies. This is great to get an idea of buy/sell pressure for each candle.
Now shows live pressure information on current bar and highlights past pressure anomalies.
Pressure Analysis: Shows support and resistance of price action. Teal color signals Support and positive pressure going with the direction of the candle. Red shows resistance pressure. Teal and Red represent support and resistance, not buy and sell.
Support Vs Resistance: This is the pressure analysis but with no minus scale. Teal = Support / Red = Resistance. ( If chart candle is red and S and R bar is teal it means that the price wants to travel down.
Directional Pressure: Show the direction of the pressure. Teal = Buy pressure, Red = Sell pressure
RVOL Analysis: RVOL analysis Shows all pressure data agains RVOL
RVOL: Cleaner version of RVOL Analysis.
Support Vs Resistance: Shows last 10 bars of S and R theme
Directional Pressure: Shows last 10 bars of Directional Pressure theme
Support Vs Resistance + Directional Pressure: Shows both widgets.
Relative Volatility: Can display on RVOL Analysis them or on widget.
Directional Pressure Percentage %: Shows percentage of directional pressure for last 10(customizable) bars. Displayed under volume total. Teal = buy pressure, Red = sell pressure
Support and resistance widget below:
With Relative Volatility (yellow)
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 a publication is governed by House Rules. You can favorite it to use it on a chart.