Bid/Ask Volume

[Dollardogs]

Anybody use bid vs ask volume in their trading? I found a thinkscript for it on TOS recently, just starting to experiment with it as a trend reversal indicator. I'm including a chart from today, strong swing from buying volume to selling volume in the tall candle matched with a doji at the height of MSFT's surge today, so price doesn't move but the volume bar screams bearishness.

Any thoughts? Still a beginner to TA and trading, I'm trying to get better at incorporating volume in my trading.

 

[SunTrader]

That's bid/ask size. Which I've never found an edge, though not saying there isn't.

Now Up/Down volume I have or rather the % up volume compared to total up/down volume and the inverse % of down volume to total up/down volume ignoring neutral volume in either case.

 

[Dollardogs]

Okay I'll look into Up/Down volume too. Any thoughts on how these two compare to using OBV? I'm just trying to figure out a way to make volume more meaningful, especially when you're looking at a trending chart but the volume amounts candle by candle aren't changing much.