Bullish Bearish Volume

Bullish Bearish Volume is an indicator that divides the volume into the bearish and the bullish part according to VSA:

Bullish volume is a volume growing during upward motion and a volume falling during downward motion.

Bearish volume is a volume growing during downward motion and a volume falling during upward motion.

For a higher obviousness it uses smoothing using MA of a small period.

Settings:

• MaxBars – number of bars calculated on the chart;
• Method – smoothing mode (Simple is most preferable);
• MA period – period of smoothing;
• Applied Volume – volume type.