# Volume Spread Analysis

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this is a graph of the volume related with the price spread.
```//@version=2
study("Volume Spread Analysis", shorttitle="VSA")
//Analisis de propagacion en Volumen
// devicemxl --> TradingView Site

volumex=volume//*(close>close[1] ? 1 : -1)
V_OPEN  = V_CLOSE[1]
V_CLOSE = close*volumex
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

plotcandle(V_LOW, V_HIGH, V_LOW, V_CLOSE, title='VSA', color = open < close ? #e5f7ff : #ffe5e5, wickcolor=black)
```
an script update:
which indicator is the one at the top labelled "PVT"?

Is the "Propagation Volumes and Trends" (I think I was very bombastic in the name) is original of LazyBear, but i modify: "With this, i calculate RSI of the HL2 of the volume and use like an oscillator, this will use to measure the strength of the trend and the Volume Flow to follow the trend. "

PVT:
LazyBear Original:
can you explain the signals a little bit, or what the bars represent?
cristian.d
Hi, the longitude of the bars are the volume of the period and the prices of the candle (low, high,low). With this can construct a image of the volume flow. I not use the open x volume because if the close = low then the volume candle don't have body. If you see the graph at 2016-01-28 between the 22:54 and 23:58, you can see how the negative volume are increccento and the bear price trend too:

Maybe are more, or more precise but i see some signals:

22:59 the price trend don't disappear but the volume flow yes, you can see how is stop the trend
23:00 to 23:03 the price trend change the direction, but you can see how the volume trend is exhaust, only few bulls are putting positions.
23;04 the the bull trend not fall but the volume indicate a bear signal
23:08 the downtrend are end, a candle without body appear
23:09 the last push for the bear trend, this can be a continuation? no.
23:10 nop, the bull trend appear with force
--
if you see a candle without body you don't have positions to impulse the trend
if you look a very large, a great body candle, will be the same phenomenon like commonly has the price: will be have a reversal.
if you see more blue than red, you are in a bull market
--
i select the time frame for this last point: we can think if see the graph in a reversal point, you know are in a down trend channel and in this moment are escaping from there... is the effect of a 1 minute graph, but if you see the 1d graph at the 28/01/16 you can see how are immerse in a big down trend.
devicemxl
Thank you so much for your explanation. I like everything volume related, I believe its the only leading tool.