OPEN-SOURCE SCRIPT

Split Volume

The Split Volume indicator displays 'Upwards' and 'Downwards' volume with an additional method for distributing 'split' candle volume.
A 'split' candle is a candle whose direction is...'Split'...since the open and close are equal. (Ex. Doji)

Upwards and Downwards Volume is tracked by comparing the Open and Closes of the Lower Timeframes.
  • If the Close is Greater-than the Open, we track the Volume as 'Upwards' Volume.
  • If the Close is Less-than the Open, we track the Volume as 'Downwards' Volume.
  • If the Close and Open are Equal, we assume that the Volume is an even split 50/50, and track it as such.

The indicator pulls data from lower timeframes to achieve more granular Open,Close,& Volume Data
Specifically:
<5m Timeframe: 1 Second LTF
<60m Timeframe: 5 Second LTF
<1D Timeframe: 1 Minute LTF
>1D Timeframe: 60m LTF

We have also included some nice-to-have features
  • 50% Volume Line: This line splits each columns in half, this is used as quick reference to see exactly which side the volume is on.
  • High Volume Candle Identification: We are detecting bars with high relative volume and coloring them on the upper chart for use as important zones.
  • Status Line Readouts: The Status line for this indicator is formatted for simple reading. It Reads(Left-to-Right):Total Volume, Downwards Volume, 50% Value, Upwards Volume


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Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

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