OPEN-SOURCE SCRIPT

Bull vs Bear Volume (Enhanced)

155
Bull vs Bear Volume (Enhanced) is a custom volume histogram that separates and visualizes estimated buying vs. selling volume within each candle. This allows traders to better understand market sentiment and detect imbalances in demand and supply.

🔍 What It Does:

Plots bullish volume (green) above the x-axis and bearish volume (red) below.

Estimates bull/bear volume by analyzing the close location within the candle's range.

Highlights volume spikes with lime (bullish) or maroon (bearish) when volume exceeds a user-defined threshold.

Includes an optional total volume line for added context.

Supports smoothing via simple moving average (SMA) to reduce noise.

🛠️ Inputs:

Toggle smoothing and set its length.

Enable/disable threshold spike highlighting.

Show/hide the total volume overlay.

Adjust the threshold multiplier for spike detection.

⚠️ Important:

This script uses a proxy method based on candle structure to estimate volume split — it does not use real-time order flow or trade direction data.

Works best on liquid assets with consistent volume.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.