For every buyer there is seller. For every seller there is a buyer. So just what is "Up Volume" or "Down Volume"? Yes, I know, "Up Volume" reflects transactions that occur on the offer. "Down Volume" transactions that occur on the bid. When used as a measurement of buying pressure, upvolume reflects the assumption that bids have risen to meet the offer. When used as a measurement of selling pressure, downvolume reflects the assumption that offers have dropped to meet the bid. In both cases, the assumption involves the use of market orders. But what about resting limit orders to sell or to buy? In this case, you might have a sell order that's filled on the offer. Yet this would be recorded as "upvolume". Vice-versa for buy orders on the bid. So, does "up" and "down" volume have any real value? Or is it just another chimerical T.A. crutch?