OPEN-SOURCE SCRIPT
Upvol and Downvol
Upvolume and downvolume, calculated according to the MFI (Money Flow) formula, and shown separately.
The indicator has options for also showing NYSE upvolume and downvolume or ES1! (S&P500 upvolume/downvolume) along with the main ticker data, so you can compare them.
The chart can be analyzed by drawing trend lines, and can be surprisingly accurate.
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The indicator has options for also showing NYSE upvolume and downvolume or ES1! (S&P500 upvolume/downvolume) along with the main ticker data, so you can compare them.
The chart can be analyzed by drawing trend lines, and can be surprisingly accurate.
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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 publications is governed by House rules. You can favorite it to use it on a chart.
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