i call it Trend Meter, or just VTM ,
The indicator sums up all green candles and red candles volumes over a specific period of bars (you set in settings) and plots their values.
Use this indicator to identify increasing with the green candles (close higher than open) and increasing of the red candles (close is lower than open).
======= Calculation ==========
For Green Column: Total of green candles is higher than total red candles .
For Red Column: Total of red candles is higher than total green candles .
======= Trend Meter Colors =======
Green: Increasing buying pressure.
Red: Increasing selling pressure.
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
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