Estimating Buy and Sell Volume from Candle Closes for a Clock Display

Summary

This TradingView indicator estimates buy and sell volume from each candle’s closing position within its high-low range. For a non-flat candle, it allocates volume in proportion to the close’s distance from the low and high; when the range is zero, it splits volume evenly. It sums these estimates over a configurable lookback and displays the current symbol’s buy/sell balance and percentage on a decorative clock interface.

The script also provides symbol labels, volume formatting, color themes, and clock graphics. It does not establish that the allocated volume represents actual buyer- or seller-initiated trades: the calculation infers pressure from OHLCV bars rather than trade-level data. The supplied excerpt is incomplete, and it contains no performance testing or evidence that the display produces a profitable signal. Treat the estimate as a visualization or exploratory proxy, not as verified order-flow data.

Key ideas

• The indicator apportions candle volume between buying and selling using the close’s location in the candle range.
• Flat-range candles are assigned equal buy and sell volume.
• Estimated volumes are accumulated across a configurable lookback and summarized as percentages.
• The method infers directional volume from OHLCV data and does not verify aggressor-side trades.
• The excerpt provides no backtest or evidence of predictive performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.