Premium Bid/Ask Volume Oscltr.
Premium 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.
Legal Disclaimer for TradingScript Solutions
The TradingView Pine Script 6 scripts provided by TradingScript Solutions, LLC are for informational and educational purposes only and do not constitute financial advice. All scripts, indicators, and tools are provided "as is" without warranties of any kind, express or implied, including accuracy, reliability, or fitness for a particular purpose. Users assume full responsibility for their use of the scripts and any trading decisions made. TradingScript Solutions, LLC is not liable for any losses, damages, or risks arising from the use of our products. Trading involves significant risk, and users should consult a qualified financial advisor before making investment decisions.
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.
