This script takes the total NYSE volume for the day and determines what percentage of that volume is Upside Volume (or buying volume).
What's different in this script compared to others is that the 3 most essential values determined by Paul F. Desmond's Dow Award-winning paper for Lowry's Reports are color coded:
1) 90% Upside Volume Day
2) 80% Upside Volume...
Takes Tradingviews Upside Volume for NYSE and divides it by Total Volume on NYSE.
Tradingview's data source generally has different volume figures than say the Wall Street Journal. Therefore, this indicator is an estimate.
10% upside volume shows extreme panic and is consistent with market sell offs.
90% upside days, following a decline, are often occur within...
Indicator from the paper "IDENTIFYING BEAR MARKET BOTTOMS AND NEW BULL MARKETS"
This paper was the winner of the prestigious 2002 Charles H. Dow Award. Each year the Market Technicians Association, in alliance with Dow Jones and Company, presents an award for excellence in the field of Technical Analysis. The recipient of that award in 2002 was Paul Desmond,...