INVITE-ONLY SCRIPT
Bid/Ask Volume Oscillator (Estimated)
Bid/Ask Volume Oscillator (Estimated)
Overview
The Bid/Ask Volume Oscillator (Estimated) is a Pine Script v6 indicator for TradingView, designed to analyze market pressure through a normalized bid/ask volume oscillator. Displayed as a smoothed oscillator with optional split volume columns, it highlights buying and selling pressure with customizable zones and gradient intensity. Custom normalized scoring ensures consistent cross-asset use. Divergence detection and a heads-up display (HUD) table provide additional insights, making it commonly used for reviewing volume-driven momentum markers/labels.
How It Works
The indicator splits each bar’s volume into bid and ask components based on the candle’s body share (math.max, syminfo.mintick), with a 50/50 split for doji candles—to balance neutral bars in pressure calcs. Rolling sums of bid and ask volumes are calculated over a user-defined lookback (default: 5 bars) using ta.cum. The pressure oscillator is computed as the smoothed difference (ask minus bid) divided by their sum (ta.ema, default: 5 periods), normalized between -1 and +1. Gradient intensity adjusts opacity based on volume relative to a 20-period SMA and previous bar. Divergences are detected by comparing price pivots (ta.pivothigh, ta.pivotlow) with oscillator pivots. The HUD table shows pressure direction and ask share percentage.
Key Features
• Pressure Oscillator: Displays normalized ask-minus-bid pressure with customizable smoothing.
• Split Volume Columns: Optionally plots bid/ask volumes with mirroring below zero.
• Gradient Intensity: Adjusts opacity based on volume strength for enhanced visuals.
• Divergence Detection: Identifies bullish and bearish divergences between price and oscillator pivots.
• Zone Thresholds: Highlights mild (±0.2) and strong (±0.4) pressure zones with background coloring.
• HUD Table: Summarizes pressure direction and ask share percentage.
• Customizable Settings: Adjust lookback, smoothing, thresholds, and colors for tailored analysis.
What It Displays
This indicator offers a unique approach to volume analysis by combining a normalized pressure oscillator with split volume visualization and divergence detection, delivering balanced insights across symbols via uniform -1/+1 scale. Its customizable zones and HUD table make it adaptable for day trading, scalping, or swing trading in stocks, forex, futures, or crypto.
Originality
This indicator is an original Pine v6 implementation using TradingView’s built-in ta.cum, ta.sma, ta.ema, ta.pivothigh, and ta.pivotlow functions.
Common Ways People Use It
• Day traders reviewing real-time pressure and momentum markers/labels.
• Scalpers studying short-term volume-driven setups.
• Technical analysts identifying divergence-based reversals.
Configuration Notes
Configure the volume sum lookback (default: 5 bars), oscillator smoothing (default: 5), and mild/strong zone thresholds (default: 0.2/0.4). Enable/disable split columns, divergence labels, or gradient intensity to suit your chart. Use the oscillator, zone highlights, and HUD table to identify buying/selling pressure and potential reversals.
Legal Disclaimer
These indicators are for informational and educational purposes only—not investment, financial, or trading advice. Past performance is not indicative of future results; trading involves high risk of loss. Provided "as is" with no warranties. Consult a qualified professional before decisions. By using, you assume all risk and agree to this disclaimer.
Overview
The Bid/Ask Volume Oscillator (Estimated) is a Pine Script v6 indicator for TradingView, designed to analyze market pressure through a normalized bid/ask volume oscillator. Displayed as a smoothed oscillator with optional split volume columns, it highlights buying and selling pressure with customizable zones and gradient intensity. Custom normalized scoring ensures consistent cross-asset use. Divergence detection and a heads-up display (HUD) table provide additional insights, making it commonly used for reviewing volume-driven momentum markers/labels.
How It Works
The indicator splits each bar’s volume into bid and ask components based on the candle’s body share (math.max, syminfo.mintick), with a 50/50 split for doji candles—to balance neutral bars in pressure calcs. Rolling sums of bid and ask volumes are calculated over a user-defined lookback (default: 5 bars) using ta.cum. The pressure oscillator is computed as the smoothed difference (ask minus bid) divided by their sum (ta.ema, default: 5 periods), normalized between -1 and +1. Gradient intensity adjusts opacity based on volume relative to a 20-period SMA and previous bar. Divergences are detected by comparing price pivots (ta.pivothigh, ta.pivotlow) with oscillator pivots. The HUD table shows pressure direction and ask share percentage.
Key Features
• Pressure Oscillator: Displays normalized ask-minus-bid pressure with customizable smoothing.
• Split Volume Columns: Optionally plots bid/ask volumes with mirroring below zero.
• Gradient Intensity: Adjusts opacity based on volume strength for enhanced visuals.
• Divergence Detection: Identifies bullish and bearish divergences between price and oscillator pivots.
• Zone Thresholds: Highlights mild (±0.2) and strong (±0.4) pressure zones with background coloring.
• HUD Table: Summarizes pressure direction and ask share percentage.
• Customizable Settings: Adjust lookback, smoothing, thresholds, and colors for tailored analysis.
What It Displays
This indicator offers a unique approach to volume analysis by combining a normalized pressure oscillator with split volume visualization and divergence detection, delivering balanced insights across symbols via uniform -1/+1 scale. Its customizable zones and HUD table make it adaptable for day trading, scalping, or swing trading in stocks, forex, futures, or crypto.
Originality
This indicator is an original Pine v6 implementation using TradingView’s built-in ta.cum, ta.sma, ta.ema, ta.pivothigh, and ta.pivotlow functions.
Common Ways People Use It
• Day traders reviewing real-time pressure and momentum markers/labels.
• Scalpers studying short-term volume-driven setups.
• Technical analysts identifying divergence-based reversals.
Configuration Notes
Configure the volume sum lookback (default: 5 bars), oscillator smoothing (default: 5), and mild/strong zone thresholds (default: 0.2/0.4). Enable/disable split columns, divergence labels, or gradient intensity to suit your chart. Use the oscillator, zone highlights, and HUD table to identify buying/selling pressure and potential reversals.
Legal Disclaimer
These indicators are for informational and educational purposes only—not investment, financial, or trading advice. Past performance is not indicative of future results; trading involves high risk of loss. Provided "as is" with no warranties. Consult a qualified professional before decisions. By using, you assume all risk and agree to this disclaimer.
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡TradingScriptSolutions。
除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
To access this premium indicator, purchase at https://whop.com/tradingscript-solutions-llc/premium-bid-ask-volume-oscltr/ . Once you've bought access, you'll receive the invite link or code to add it to your TradingView account.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡TradingScriptSolutions。
除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
To access this premium indicator, purchase at https://whop.com/tradingscript-solutions-llc/premium-bid-ask-volume-oscltr/ . Once you've bought access, you'll receive the invite link or code to add it to your TradingView account.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。