This is an updated version of the Accumulated P/C Ratio. Some changes include:
- Pinescript privacy changed from protected to open.
- Utilizes the "request.security_lower_tf" function for weekly and monthly charts.
- Now acquires and sums raw put volume (ticker: PVOL) and call volume (ticker: CVOL ) separately, then divides the aggregate put to aggregate call to get the P/C ratio, as opposed to the original version which directly sums the put call ratio (ticker: PCC ). Mathematically this calculation makes more sense, but the major drawback of this change seems to be that PVOL and CVOL don't have as much historical data as PCC .
The way to interpret the indicator is the same as the original version - higher values are bullish while lower values are bearish . A solid (0 transparency) bar means that the value is beyond 3 standard deviations within a particular period.
- Pinescript privacy changed from protected to open.
- Utilizes the "request.security_lower_tf" function for weekly and monthly charts.
- Now acquires and sums raw put volume (ticker: PVOL) and call volume (ticker: CVOL ) separately, then divides the aggregate put to aggregate call to get the P/C ratio, as opposed to the original version which directly sums the put call ratio (ticker: PCC ). Mathematically this calculation makes more sense, but the major drawback of this change seems to be that PVOL and CVOL don't have as much historical data as PCC .
The way to interpret the indicator is the same as the original version - higher values are bullish while lower values are bearish . A solid (0 transparency) bar means that the value is beyond 3 standard deviations within a particular period.