Well not conclusive in itself it is a bullish indicator when...

Well not conclusive in itself it is a bullish indicator when buyers outnumber sellers ... Taken in context of other indicators its a powerful tool .. not to be ignored...

In fact of even more importance is the relative changes in the ratio to buyers and sellers over a time period ... If buyers are growing that is a early signals a move up may be about to occur...

So powerful is this indicator that I track the Buy/Sell ratio of several hundred stocks at once, graphically and I take the depth ratio into account with every purchase I make to assist in getting the timing right..

Ignore it at you own peril IMHO