Home >> (Table of Contents) Studies and Indicators >> Technical Studies Reference >> Bid Volume vs Ask Volume
Technical Studies Reference
- Technical Studies Reference
- Common Study Inputs (Opens a new page)
- Using Studies (Opens a new page)
Bid Volume vs Ask Volume
Description
This study can only be used on an Intraday Chart. Refer to the studies Ask Volume and Bid Volume for an explanation of the symbols used here.
This study displays histograms for \(V^{(ask)}_t\) and \(-V^{(bid)}_t\) by default. Each column has the the Bid volume and Ask volume for the time period of the underlying bars.
If the Invert Study Input is set to Yes from the default state, then \(-V^{(ask)}_t\) and \(V^{(bid)}_t\) are displayed.
If the Show Bid Volume As Positive Input is set to Yes from the default state, then \(V^{(ask)}_t\) and \(V^{(bid)}_t\) are displayed. In this case, the bars from the two histograms overlap.
This study also calculates and displays a line graph for the Difference between the Ask and Bid Volumes: \(V^{(ask)}_t - V^{(bid)}_t\). This is calculated using the values of the Ask and Bid Volumes at Index \(t\) when the Try Use Non-Zero Bid/Ask Volumes for Difference Input is set to No. If this Input is set to Yes, then any time the current value of the Ask or Bid Volume is zero, the value is replaced with its most recent non-zero value.
Volume Filtering
It is possible to set upper and lower volume filters, to filter out the volume of trades at or above and at or below the specified volume values. This set the volume filter, select Chart >> Chart Settings >> Data Limiting on the menu. For complete documentation for the volume filtering settings, refer to Chart Settings.
Inputs
- Invert Study: When this Input is set to Yes, the study is inverted. This means Bid volume becomes positive and Ask volume becomes negative.
- Show Bid Volume As Positive: With this Input is set to Yes, the Bid volume bars will be positive and will overlap the Ask volume bars.
- Try Use Non-Zero Bid/Ask Volumes for Difference: This Input should almost always be set to No. This is for special purposes. When this Input is set to Yes, then when calculating the difference between Ask volume and Bid volume, nonzero values will be used by searching back from the current bar being calculated, for a nonzero Ask Volume or Bid Volume value if one of them is zero.
Spreadsheet
The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.
Open it through File >> Open Spreadsheet.
*Last modified Sunday, 30th July, 2023.