This script is major rewritten from scratch analysis of Volume Spread Analysis in comparison to previous version. New definitions have been added, calculations of Spread, Volume and Trend have been optimised and signals are much more accurate. I created script based on definitions coming from methodology of Volume Spread Analysis. Signals appearing below candle are treated as SOS (Signal of Strength) and those above candles - SOW (Signal of Weakness). Also we can see automatic identification of Bullish / Bearish Volume . Script is judging Spread and Volume used for identifying VSA Signals based on multiple factors. Also analysis of Effort & Result have been added, easily allowing to spot continuations of trend and divergences.
All major signals from VSA have been added like Stopping Volume, Climaxes, End of Rising Market, Bag Holding etc.
In case of interest, please contact me directly via DM on Tradingview or please see link to documentation from my signature where you can find more information about Subscription and script itself.
Release Notes
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Correction of adding missing in some definitions optional condition of minimum volume to perform analysis
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Corrected and updated definitions of signals accordingly to the most recent rules of VSA methodology
Optimised performance of calculations
Added new VSA Signals
Bugfixes
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Corrected and rewritten mechanism of calculating volume average from last sessions defined via Inputs
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Adjusted code to bug-fix for calculation Session Average Volume
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corrected few signals definition and classification in SOW
adjusted alerts to reflect the newest bugfixes
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new function - Volume-based S/R levels
added display of EMA200
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Added option to display auto-adaptive Hull Moving Average based on Range or Volume present on the market
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Corrected signals definitions from original VSA methodology.
There are four categories of signals now marked as below:
Cross and Diamond - major signals predicting possible trend reversal
Circle - Signals of Weakness/Strength
Triangle - Tests from VSA methodology
Flag - is displaying signals when Supply/Demand Zone were broken
Ideal scenario would be to get firsty Cross or Diamond Signal, then Circle and Triangle - but it's not always happening. It's individual judgement of trader what makes a difference and can turn signals from VSA Scanner into profitable trade. There are also drawn Supply (orange) and Demand Zones (blue).
Scanner is not displaying all Wyckoff's nor VSA signals in order to simplify things but I tried to reflect as much as possible in it - that's why we have also Strength and Weakness Signals or Confirmations being displayed on chart.
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Bugfix - restore original functionalities of Volume Zones & Auto-Adaptive Moving Average that disappeared (by mistake!) within previous update
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Modified coloring of signals (in order of importance): Bullish - Green, Blue, Purple Bearish - Red, Orange, Yellow
Also I've added logic to limit double signals per bars, introducing priority of signals policy and display more important signal per bar in case of multiple signals identified by algo
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Bugfixes
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corrected definitions of signals from VSA & Wyckoff methodology, improved accuracy
added functionality of display Ultra Zones, extremely accurate in trading in case of retests/breakthroughs
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Alerts added
Adjusted signals accuracy, corrections in definitions
Bugfixes
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added alternative method of trend calculation (recommended and enabled by default)
ultra volume zones are more accurate than even before! Now they're combined strictly with Climactic VSA Signals and Ultra high Volume Levels (you still have possibility to enable display of all volume zones based on vsa)
alerts added
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simplification of signals display - now it's either BUY or SELL in default mode
code migration to Pine v5
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Fixed typos in code
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Fixed issue with code compilation due to changes in Pine Script
May I use this indicator as well if you don't mind please? Thanks ..
Vviivveekk
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Please grant permission to use this awesome script 😑 Thanks in advance
Mildrediff
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Please allow me to use this indicator
Mox0122
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Can I try this indicator?
Suga1212
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Hi Can you please give access for a week, starting from MON 17th July IST, to test it. If found useful I would like to go for premium. Kindly let me know how much is the premium. Thanks.
irkom2
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Czy jest możliwe przetestowanie tego wskaźnika?
skyline-trader
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@irkom2, Yes with Premium Plan during Trial period :)
teodorella
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hi, is there a chance to test the indicator please
infernalflash
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hi, this looks like a great indicator, wishing for granted access pretty please.