indicator describing buyer/seller ratio

I'm wondering if there is a such thing as an indicator that shows the amount of buyers and sellers on any given equity at any given time. Like, I suppose it would have to be done with level 2 and adding up the amount of buyers and sellers then creating a ratio which then could be graphed.

Does anything like this exist? Or anything similar?

jacknapier said:

I'm wondering if there is a such thing as an indicator that shows the amount of buyers and sellers on any given equity at any given time. Like, I suppose it would have to be done with level 2 and adding up the amount of buyers and sellers then creating a ratio which then could be graphed.

Does anything like this exist? Or anything similar?

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Look up Elder's Bull and Bear Power. As I recall bull power is H - EMA(C, 13) and bear power is L - EMA(C, 13). Check it out.

colion said:

Look up Elder's Bull and Bear Power. As I recall bull power is H - EMA(C, 13) and bear power is L - EMA(C, 13). Check it out.

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Ok, I'll read up on them this weekend. Thanks. Although, I was really looking for something that isn't based on price, but maybe I'm misunderstanding them and need to read more about them.

Well for every buyer there is a seller. Price doesn't move up because there are more buyers than sellers.
however, you can see who is being more 'aggressive' with their intentions by looking at something like cumulative delta indicator which I think is maybe the type of thing you are looking for. It tracks market orders (aggressive orders where people are willing to get into the market quicker for a 'worse' price)