Volume Price Spread Analysis — Indicator by eldeivit

volumepriceanalysis volume volume-weighted

With the same idea of the VSA i make the VPSA to make synthetic graph of the price and the volume effect, its easy to see the volume trends. Each instrument have a more clear time frame to see the volume patterns.

Can use others indicators over the VPSA, only write in CAPITAL letters open, high, low, close or hl2 at inputs section.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

//@version=2
study("Volume Price Spread Analysis 1", shorttitle="VPSA")
//Volume Spread Analysis
//Analisis de propagacion en Volumen
// devicemxl --> TradingView Site

/// Values
volumex=log(volume)//*(close>close[1] ? 1 : -1)
V_CLOSE = V_CLOSE[1] > 1 ? ( (close*volumex) + (high*volumex) + (low*volumex) + V_CLOSE[1] ) *0.25 : ( (close*volumex) + (high*volumex) + (low*volumex) + (((close[1]*volumex[1])+(open*volumex))*0.5) ) *0.25
V_OPEN  = (V_CLOSE[1]+(open*volumex))*0.5
V_HIGH = max(max(high*volumex,V_CLOSE),V_OPEN)
V_LOW   = min(min(low*volumex,V_OPEN),V_CLOSE)
V_HL2   = ( V_HIGH + V_LOW ) / 2
senial=input(defval="HL2",title="Signal",type=string)
ploter = ( senial == "CLOSE" ) ? V_CLOSE : ( senial == "OPEN" ) ? V_OPEN : ( senial == "HL2" ) ? V_HL2 : ( senial == "HIGH" ) ? V_HIGH : ( senial == "LOW" ) ? V_LOW : 0
signal = plot(ploter, color=silver, style=circles)

plotcandle(V_OPEN, V_HIGH, V_LOW, V_CLOSE, title='VSA', color = V_OPEN < V_CLOSE ? silver : red, wickcolor=black)