Up/Down Vol Ratio — Indicator by CarusoInsights

The Up/Down Volume Ratio is a tool utilized by investors.com. They describe it as "A 50-day ratio that is derived by dividing total volume on up days by the total volume on down days. A ratio greater than 1.0 implies positive demand for a stock."

It is best used to confirm buying or selling pressure in your stock in conjunction with price analysis.

Acknowledgment
The formula is obtained from the investors.com education section:

Thank you to @JohnMuchow for upgrading my code for best practices when publishing.

Release Notes:

Version 2.0

■ Added an option to highlight the indicator background if it is equal to or greater than a set value.

Get access to CarusoInsights indicators: www.carusoinsights.com/charting/

Open-source script

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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