OPEN-SOURCE SCRIPT

Exchange Down / Up Volume Ratio

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 interesting metric to consider, basically used to get a rough idea of the short term sentiment of the masses; allowing one to see when selling is outpacing buying in pure volume traded on an exchange.

I've added a few other exchanges to allow for quick switch between the majors with this info readily available on TradingView.

Supported inputs are: AMEX, NYSE, NASDAQ, ALL (must be in caps)
All is the sum of the NYSE, AMEX, and NASDAQ exchange volume.

The standard trading view disclaimer applies to this post -- please consult your own investment advisor before making investment decisions. This post is for observation only and has no warranty etc. tradingview.com/disclaimer/

Best,

JM

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