Bull/Bear Volume Diagram

Overview

This indicator displays trading volume in a mirrored diagram that separates bullish and bearish activity. Bullish candle volume is plotted above the center line, while bearish candle volume is plotted below it. This layout helps visualize market participation and directional pressure in a more intuitive way than traditional volume histograms.

How It Works

The indicator evaluates each candle and determines whether it is bullish or bearish based on its open and close prices:

• If the candle closes above its open, its volume is plotted upward.
  
• If the candle closes below its open, its volume is plotted downward.
  

Each side is color-coded independently to clearly distinguish buying and selling pressure.
Additionally, the indicator calculates a moving average of volume separately for bullish and bearish candles. These averages help identify trends in directional volume strength and allow traders to compare buyer versus seller dominance over time.

Features

• Mirrored bullish and bearish volume visualization
  
• Independent color customization for bullish and bearish volume
  
• Directional volume moving averages
  
• Clear separation of buying and selling activity
  
• Lightweight and responsive calculation
  

How To Use
This indicator can help traders:

• Identify which side of the market is dominating volume
  
• Detect shifts in buying or selling pressure
  
• Compare momentum between bullish and bearish participation
  
• Observe volume trends more clearly than with standard volume bars
  

Notes

• Volume is classified using candle direction, not order flow or tick data.
  
• Results may vary depending on timeframe and market type.
  
• This indicator is intended as a visual analysis tool and should be combined with other technical analysis methods.