PROTECTED SOURCE SCRIPT
Bid/Ask Volume Cross
Updated
The Bid/Ask Volume Cross is a volume-based indicator that separates and visualizes buying and selling volume pressure through dual-line visualization:
Green Line (Ask Volume):
-Tracks volume when price closes above the open
-Represents buying pressure/demand
-Stronger when closes are bullish with high volume
Red Line (Bid Volume):
-Tracks volume when price closes at or below the open
-Represents selling pressure/supply
-Stronger when closes are bearish with high volume
Volume Intensity:
-Lines become more opaque when volume increases relative to:
-20-period moving average
-Previous bar's volume
-Opaque colors = stronger volume
-Translucent colors = weaker volume
Divergence Trading:
-Bullish Divergence:
-Price makes lower lows while Ask Volume makes higher lows
-Suggests potential reversal from downtrend
-Look for dark green intensity confirming buying pressure
Bearish Divergence:
-Price makes higher highs while Bid Volume makes lower highs
-Suggests potential reversal from uptrend
-Look for dark red intensity confirming selling pressure
Settings:
-Volume Sum Lookback (default 5): Bars to sum volume over
-Color Intensity (default 0.4): Controls color opacity sensitivity
Green Line (Ask Volume):
-Tracks volume when price closes above the open
-Represents buying pressure/demand
-Stronger when closes are bullish with high volume
Red Line (Bid Volume):
-Tracks volume when price closes at or below the open
-Represents selling pressure/supply
-Stronger when closes are bearish with high volume
Volume Intensity:
-Lines become more opaque when volume increases relative to:
-20-period moving average
-Previous bar's volume
-Opaque colors = stronger volume
-Translucent colors = weaker volume
Divergence Trading:
-Bullish Divergence:
-Price makes lower lows while Ask Volume makes higher lows
-Suggests potential reversal from downtrend
-Look for dark green intensity confirming buying pressure
Bearish Divergence:
-Price makes higher highs while Bid Volume makes lower highs
-Suggests potential reversal from uptrend
-Look for dark red intensity confirming selling pressure
Settings:
-Volume Sum Lookback (default 5): Bars to sum volume over
-Color Intensity (default 0.4): Controls color opacity sensitivity
Release Notes
adjusted lookback logicRelease Notes
option to turn on/off gradient intensity added pressure logic
Protected script
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