Lowry Upside % Volume — Indicator by BullRiderCapital

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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 Day
3) 90% Downside Volume Day

According to Paul's award-winning research, these precise criteria are objective definitions of panic selling and panic buying and are generally near major market tops and bottoms.

His Dow Award-winning paper on the topic can be explored and scrutinized in more detail here:

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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