OPEN-SOURCE SCRIPT
Directional Volume Matrix | julzALGO
📊Directional Volume Matrix | julzALGO
This script is designed as a structured market participation and directional volume analysis dashboard, combining candle anatomy, estimated buy/sell pressure, normalized volume distribution, and directional imbalance into a single visual workflow.
Rather than treating volume as neutral, this model estimates how much of each candle’s volume likely came from bullish participation versus bearish participation by analyzing:
• Close position within candle range
• Upper and lower shadow structure
• Body size and direction
• Relative candle positioning
The result is a fixed 30-bar dashboard that helps traders visualize directional participation, pressure dominance, and imbalance more objectively.
🔷 Core Concept
Traditional candles show price movement.
Traditional volume shows total activity.
This script expands both by estimating:
• Buy Volume
• Sell Volume
• Delta (Buy − Sell)
• Imbalance %
using candle anatomy as a directional participation model.
🔷 Bullish Candle Structure (Close > Open)
Bullish Interpretation:
• Close near high → stronger buyer control
• Lower shadow → buyer defense
• Bull body → bullish participation
🔷 Bearish Candle Structure (Close < Open)
Bearish Interpretation:
• Close near low → stronger seller control
• Upper shadow → seller rejection
• Bear body → bearish participation
🔷 Important Structural Rule
For both bullish and bearish candles:
• Upper Shadow = seller response / rejection from highs
• Lower Shadow = buyer defense / response from lows
Only the body direction changes:
• Bull = Close above Open
• Bear = Close below Open
🔷 How the Script Works
1. Price Range
priceRange = high - low
Measures total candle range.
2. closePos
closePos = (close - low) / priceRange
Interpretation:
• Close near HIGH → closePos near 1 → stronger buy influence
• Close near LOW → closePos near 0 → stronger sell influence
3. bodyRatio
bodyRatio = (close - open) / priceRange
Interpretation:
• bodyRatio > 0 → bullish body
• bodyRatio < 0 → bearish body
4. Wick Logic
upperWick = high - max(open, close)
lowerWick = min(open, close) - low
Interpretation:
• Upper shadow = seller rejection
• Lower shadow = buyer defense
🔷 Estimated Buy / Sell Volume Model
The script builds directional participation through these weighted components:
Buy Strength
buyStrength =
(closePos * 0.60) +
(wickBuy * 0.25) +
(bodyRatio > 0 ? bodyRatio * 0.35 : 0)
Sell Strength
sellStrength =
((1 - closePos) * 0.60) +
(wickSell * 0.25) +
(bodyRatio < 0 ? -bodyRatio * 0.35 : 0)
Then total candle volume is split proportionally into:
estBuyVol = volume * buyStrength
estSellVol = volume * sellStrength
And normalized so:
Estimated Buy Volume + Estimated Sell Volume = Total Candle Volume
🔷 Dashboard Structure — Volume Distribution Table
This dashboard analyzes the last 30 candles and displays a structured volume participation table.
🔷 Table Settings
• Show Table → Enable / Disable dashboard
• Table Position → Top Left / Top Right / Bottom Left / Bottom Right
• Color Bars By Candle Direction → Bullish = Aqua / Bearish = Red
• Show Volume Numbers → Show / Hide numerical values
🔷 Lower Timeframe Settings
• Use Lower Timeframe Volume → Optional lower timeframe sourcing
• Lower Timeframe → Custom timeframe input
Purpose:
• More granular participation estimates
• Intraday precision
• Session detail on higher timeframe charts
🔷 Dashboard Components
1. Relative Volume Histogram
Displays each candle’s relative volume intensity.
2. Candle Direction Color
• Aqua = Bull candle
• Red = Bear candle
3. Volume Numbers
Exact volume values per bar
4. Time Row
Bar timestamp reference
5. Aggregate Metrics
• B = Estimated total Buy Volume
• S = Estimated total Sell Volume
• Delta = Buy − Sell
• Imbalance = |Delta| ÷ Total Volume × 100
🔷 How to Use — Execution Workflow
Bullish Workflow
STEP 1:
• Bull candles closing near highs
• Lower shadows showing defense
STEP 2:
• B > S
• Positive Delta
• Rising Imbalance %
STEP 3:
• Buyer participation dominant
RESULT:
• Bullish directional bias
Bearish Workflow
STEP 1:
• Bear candles closing near lows
• Upper shadows showing rejection
STEP 2:
• S > B
• Negative Delta
• Rising Imbalance %
STEP 3:
• Seller participation dominant
RESULT:
• Bearish directional bias
🔷 Purpose & Value
This script is designed to help traders answer:
“Was price movement supported by directional participation?”
instead of simply:
“Did price move?”
It supports:
• Volume structure reading
• Directional bias analysis
• Participation imbalance detection
• Bull vs Bear pressure comparison
• Dashboard-based workflow
🔷 Important Notes
• This is a candle-structure-based participation model
• It does NOT use exchange bid/ask, footprint, or true order-flow data
• Buy/Sell values are estimated from candle anatomy and volume weighting
• Best used alongside:
• Market Structure
• Order Blocks
• FVG
• POC / Volume Profile
• Session context
🔷 Disclaimer
This script is for educational and informational purposes only.
It does not constitute financial advice or guaranteed performance.
Always perform your own analysis and use proper risk management before trading.
This script is designed as a structured market participation and directional volume analysis dashboard, combining candle anatomy, estimated buy/sell pressure, normalized volume distribution, and directional imbalance into a single visual workflow.
Rather than treating volume as neutral, this model estimates how much of each candle’s volume likely came from bullish participation versus bearish participation by analyzing:
• Close position within candle range
• Upper and lower shadow structure
• Body size and direction
• Relative candle positioning
The result is a fixed 30-bar dashboard that helps traders visualize directional participation, pressure dominance, and imbalance more objectively.
🔷 Core Concept
Traditional candles show price movement.
Traditional volume shows total activity.
This script expands both by estimating:
• Buy Volume
• Sell Volume
• Delta (Buy − Sell)
• Imbalance %
using candle anatomy as a directional participation model.
🔷 Bullish Candle Structure (Close > Open)
Bullish Interpretation:
• Close near high → stronger buyer control
• Lower shadow → buyer defense
• Bull body → bullish participation
🔷 Bearish Candle Structure (Close < Open)
Bearish Interpretation:
• Close near low → stronger seller control
• Upper shadow → seller rejection
• Bear body → bearish participation
🔷 Important Structural Rule
For both bullish and bearish candles:
• Upper Shadow = seller response / rejection from highs
• Lower Shadow = buyer defense / response from lows
Only the body direction changes:
• Bull = Close above Open
• Bear = Close below Open
🔷 How the Script Works
1. Price Range
priceRange = high - low
Measures total candle range.
2. closePos
closePos = (close - low) / priceRange
Interpretation:
• Close near HIGH → closePos near 1 → stronger buy influence
• Close near LOW → closePos near 0 → stronger sell influence
3. bodyRatio
bodyRatio = (close - open) / priceRange
Interpretation:
• bodyRatio > 0 → bullish body
• bodyRatio < 0 → bearish body
4. Wick Logic
upperWick = high - max(open, close)
lowerWick = min(open, close) - low
Interpretation:
• Upper shadow = seller rejection
• Lower shadow = buyer defense
🔷 Estimated Buy / Sell Volume Model
The script builds directional participation through these weighted components:
Buy Strength
buyStrength =
(closePos * 0.60) +
(wickBuy * 0.25) +
(bodyRatio > 0 ? bodyRatio * 0.35 : 0)
Sell Strength
sellStrength =
((1 - closePos) * 0.60) +
(wickSell * 0.25) +
(bodyRatio < 0 ? -bodyRatio * 0.35 : 0)
Then total candle volume is split proportionally into:
estBuyVol = volume * buyStrength
estSellVol = volume * sellStrength
And normalized so:
Estimated Buy Volume + Estimated Sell Volume = Total Candle Volume
🔷 Dashboard Structure — Volume Distribution Table
This dashboard analyzes the last 30 candles and displays a structured volume participation table.
🔷 Table Settings
• Show Table → Enable / Disable dashboard
• Table Position → Top Left / Top Right / Bottom Left / Bottom Right
• Color Bars By Candle Direction → Bullish = Aqua / Bearish = Red
• Show Volume Numbers → Show / Hide numerical values
🔷 Lower Timeframe Settings
• Use Lower Timeframe Volume → Optional lower timeframe sourcing
• Lower Timeframe → Custom timeframe input
Purpose:
• More granular participation estimates
• Intraday precision
• Session detail on higher timeframe charts
🔷 Dashboard Components
1. Relative Volume Histogram
Displays each candle’s relative volume intensity.
2. Candle Direction Color
• Aqua = Bull candle
• Red = Bear candle
3. Volume Numbers
Exact volume values per bar
4. Time Row
Bar timestamp reference
5. Aggregate Metrics
• B = Estimated total Buy Volume
• S = Estimated total Sell Volume
• Delta = Buy − Sell
• Imbalance = |Delta| ÷ Total Volume × 100
🔷 How to Use — Execution Workflow
Bullish Workflow
STEP 1:
• Bull candles closing near highs
• Lower shadows showing defense
STEP 2:
• B > S
• Positive Delta
• Rising Imbalance %
STEP 3:
• Buyer participation dominant
RESULT:
• Bullish directional bias
Bearish Workflow
STEP 1:
• Bear candles closing near lows
• Upper shadows showing rejection
STEP 2:
• S > B
• Negative Delta
• Rising Imbalance %
STEP 3:
• Seller participation dominant
RESULT:
• Bearish directional bias
🔷 Purpose & Value
This script is designed to help traders answer:
“Was price movement supported by directional participation?”
instead of simply:
“Did price move?”
It supports:
• Volume structure reading
• Directional bias analysis
• Participation imbalance detection
• Bull vs Bear pressure comparison
• Dashboard-based workflow
🔷 Important Notes
• This is a candle-structure-based participation model
• It does NOT use exchange bid/ask, footprint, or true order-flow data
• Buy/Sell values are estimated from candle anatomy and volume weighting
• Best used alongside:
• Market Structure
• Order Blocks
• FVG
• POC / Volume Profile
• Session context
🔷 Disclaimer
This script is for educational and informational purposes only.
It does not constitute financial advice or guaranteed performance.
Always perform your own analysis and use proper risk management before trading.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Official julzALGO Community:
discord.gg/FJkAYEAH
discord.gg/FJkAYEAH
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Official julzALGO Community:
discord.gg/FJkAYEAH
discord.gg/FJkAYEAH
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.