Daily Short Volume Ratio

The short volume ratio is the number of shares sold short divided by the average daily volume and is used to indicate sentiment. In its most basic form, short volume ratio above 0.5 indicates more folks are shorting the stock while a short volume ratio below 0.5 indicates more folks are buying the stock. Short volume and total volume data is collected daily from FINRA for the NYSE and the NASDAQ exchange and represents lit markets. Daily short and total volume is calculated after the exchanges close so will lag by a day on the chart.

This indicator displays the short volume ratio for the last 1, 2, 3, 4, and 5 days and includes a smoothing function (def: off) to better visualize trends.

The indicator also includes the ability to view the short volume ratio for the last day for a reference ticker (def: SPY) to compare with total market sentiment.

Thanks to those before me for providing ideas and code.

Notes de version

Updated range to go all the way from 0-1. Added option to view multiple reference tickers if desired.

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

Snufkin420TC

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Script open-source

Snufkin420TC