Buying Volume vs Selling Volume

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07/13/2022 at 7:24 AM #197197 quote

IG_CFD_Trader
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Average

Hello,

has anyone managed to work out a code formula that can separate buying volume and selling volume by assessing open, high, low and close of each candle?

For example: if candle is green then logic perhaps says there was more buying volume than selling volume because more contracts exchanged hands at Ask price. The question is: what % of the total volume was buying volume. Conversely, if candle is red then logic perhaps says there was more selling volume than buying volume because more contracts exchanged hands at Bid price. The question is: what % of the total volume was selling volume.

Looking at open, high, low and close and distances of high and low from open and close, I am sure there must be a way to then work out buying vs selling volume.

Regards,

07/13/2022 at 9:48 AM #197207 quote
robertogozzi
Moderator

Master
I have found this info, which may be of help to separate the volume according to the Buyers and Sellers:
```
// Buyers & Sellers
//
//https://www.forexfactory.com/thread/213497-buyers-sellers-display
//
Buyers    = (close - low)
Sellers   = (high  - close)
//
BuyersPC  = Buyers  / range
SellersPC = Sellers / range
//
VolBuyers  = Volume * BuyersPC
VolSellers = Volume * SellersPC

return VolBuyers AS "BUY",VolSellers AS "SELL"
```
set the two returned values as HISTOGRAMS, using different colours (usually Green and Red).

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Buying Volume vs Selling Volume

ProBuilder: Indicators & Custom Tools

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IG_CFD_Trader @wnakhoul Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
3 years, 7 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	07/13/2022
Status:	Active
Attachments:	No files

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