Bullish Bearish Tick Volume with Averages

Tick volume is rarely used by most of traders, as it is hard to analyze and utilize it. This tool makes it is easier to track the volume behind the moves. It will separate tick volume into bullish and bearish volumes with two separate moving averages.


As we know, each volume tick bar measures the number of transactions per candle. The more transactions there are in one candle, the higher the volume and if candles closes lower it means sellers are stronger and price will move lower. This indicator averages those transaction volumes with moving averages, averaging bearish volume vs bullish one.


Tracking volume versus price in an easy way is now accessable to any trader. It will put you on track with the market makers and those who move the price. Volume is not the only thing which moves the price but its an important factor behind it. Hence it has a predictive power.


Prevalance of bullish volume means price is likely to trend higher.


Prevalance of bearish volume means price is likely to move lower.


Watch volume crossovers to indicate change of trend.


You can regulate the period and type of tick volume averages (SMA, EMA, SMMA, LWMA).


On attached screenshots Bullish and Bearish Volume Tick Volume Averages are set to 12 tick bars (standard setting with simple MA). Period and MA type can be changed.
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