The $VOLD index shows the volume of the advancing stocks versus the volume of the declining stocks. Ideally, we want to see the ratio of $VOLD being higher than usual. A ratio of 3:1 means that the volume of advancing stocks is 3 times higher than volume of declining stocks in the exchange.
The indicator has multiple modes of operation: bars, line, candles, and ratio. The first three modes are essentially the same, and are simply a preference of how you would like to see the raw reading of the $VOLD values.
The default settings for each mode of operation have been carefully selected. Explore all the features available in TickSurfers $VOLD Indicator by going to the indicator’s input settings and selecting the modes and settings your prefer.
Docs available for this indicator
TickSurfers VOLD Indicator is available for the following platforms:
TradingView®
TradeStation®