So for your formulas:
uppath / totalpathwould be kind of a ‘bar efficiency’, equalbodySize / barRange. Correct? s.
Well, it’s not exactly the same. What I assume for up bars is a direct move from Open to Low, then to High and finally to Close. For down bars this is from open to high, to low and to close. Thus, it’s different from bodySize/barRange which is |open-close|/(high-low). Please see attachment.
Of course, this is only an approximation of up/down volume from volume of a single candle. I’m quite sure that it’s a good approximation. But if you count ticks itself, you can directly use ticks to obtain the best obtainable up/down tick volume.
