Session Overlap Volume Pressure Gauge

Measures the ratio of bullish to bearish candle body sizes over a rolling window, normalized and smoothed. Designed to go flat and silent outside the London-New York overlap session. Triggers threshold-cross events when buying or selling pressure dominates.

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Outputs / plots

Latest changelog

Initial release.

Version history

let bull_body = max(close - open, 0)
let bear_body = max(open - close, 0)
let bull_sum = sum(bull_body, window_len)
let bear_sum = sum(bear_body, window_len)
let raw_ratio = if(bear_sum > 0, bull_sum / bear_sum, 1)
let log_ratio = log(max(raw_ratio, 0.0001))
let smoothed = ema(log_ratio, smooth_len)
let z = zscore(smoothed, window_len)
let normalized = clamp(z, -3, 3)
let vol_weight = if(volume > 0, volume / max(sma(volume, window_len), 0.0001), 1)
let pressure = normalized * clamp(vol_weight, 0.5, 2)
let signal_line = sma(pressure, signal_len)
let hist = pressure - signal_line
let bull_cross = crossover(pressure, threshold)
let bear_cross = crossunder(pressure, threshold * -1)
plot("pressure", pressure)
plot("signal", signal_line)
plot("hist", hist)
event("bull_alert", bull_cross)
event("bear_alert", bear_cross)

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