UVOL / DVOL Ratio — Indicator by volak

advancedeclineratio upvolume downvolume uvol dvol

Plots the NYSE, NASDAQ, AMEX UP Volume and DOWN Volume ratios as a histogram - and adds the index UVOL / DVOL ratios as a line graph.

DVOL is represented as negative - UVOL as positive. When either is above 2 its a good predictor of the day's outcome. At least - it tells you if the bulls or bears are winning the day.

Really simple to use / edit to your needs

Enjoy

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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