// This is a port of the bar by bar Buy/Sell pressure indicator by Karthik Marar.
// See below link for further details.
// karthikmarar.blogspo...ssure-indicator.html
// The only difference being I used the Hull moving average instead of WMA which the HullMA is a derivative of.
// Credits to Chris Moody for the HullMA code.
// All disclaimers apply
// See below link for further details.
// karthikmarar.blogspo...ssure-indicator.html
// The only difference being I used the Hull moving average instead of WMA which the HullMA is a derivative of.
// Credits to Chris Moody for the HullMA code.
// All disclaimers apply
// This is a port of the bar by bar Buy/Sell pressure indicator by Karthik Marar.
// See below link for further details.
// http://karthikmarar.blogspot.com/2012/09/buying-and-selling-pressure-indicator.html
// The only difference being I used the Hull moving average instead of WMA which the HullMA is a derivative of.
// Credits to Chris Moody for the HullMA code.
// All disclaimers apply
study("Buy/Sell Pressure Raw ", shorttitle="BSP RAW")
sp = high - close
bp = close - low
hline(0)
hullma(src, len) =>
wma(2*wma(src, len/2)-wma(src, len), round(sqrt(len)))
bpavg = hullma(bp,60)
spavg = hullma(sp,60)
nbp = bp/bpavg
nsp = sp/spavg
diff1 = nbp-nsp
Varg = hullma(volume,60)
nv = volume/Varg
nbfraw = nbp * nv
nsfraw = nsp * nv
plot(nbfraw, title = "Buy Pressure", style = columns, color= lime)
plot(-nsfraw, title = "Sell Pressure", style = columns, color= red)