This ProBuilder code snippet demonstrates how to create histograms that represent buying and selling volumes based on the price movement within a given period. The histograms are colored differently to distinguish between buying (green) and selling (red) volumes.

//o=open hi=high l=low c=close v=volume
buying=v*(c-l)/(hi-l)
selling=v*(hi-c)/(hi-l)
sv=selling
bv=buying
return bv coloured(0,255,0) style(histogram) ,sv coloured(255,0,0) style(histogram)

Explanation of the code:

• Variable Definitions:
  • o, hi, l, c, and v are shorthand for open, high, low, close, and volume of a trading period, respectively.
• Calculating Buying Volume:
  • buying = v*(c-l)/(hi-l) calculates the buying volume as the proportion of the volume that corresponds to the price movement from the low to the close relative to the entire range (high to low) of the period.
• Calculating Selling Volume:
  • selling = v*(hi-c)/(hi-l) calculates the selling volume as the proportion of the volume that corresponds to the price movement from the high to the close relative to the entire range of the period.
• Output with Styling:
  • return bv coloured(0,255,0) style(histogram) displays the buying volume as a green histogram.
  • sv coloured(255,0,0) style(histogram) displays the selling volume as a red histogram.

This snippet is useful for visualizing the buying and selling pressures during different trading periods directly on a chart, aiding in the analysis of market behavior.