OPEN-SOURCE SCRIPT
VSA Volume
Updated
Volume indicator judging level of volume per bar accordingly to Volume Spread Analysis rules. It allows either to set static volume levels or dynamic ones based on ratio comparable to Moving Average. Bars are coloured based on ratio or static levels, visually presenting level of Volume (low, average, high, ultra high).
Release Notes
Improved handling of static volume levels, that are now working and color in a correct way volume bars.Release Notes
- added possibility to display MA based on defined session range
- added predefined settings switch for volume for NQ and DAX for interval M1
Release Notes
Fixed issue with Predefined levels for NQ and DAXRelease Notes
Added display of divergences accordingly to VSA Volume rules:- Bullish Divergence - when price drops and volume fall
- Bearish Divergence - when price rise and volume fall
Those are extremely powerful signals of potential reversals of trends, as those divergences are signalling lack (decrease) of Supply/Demand that fuelled earlier the move on market.
Release Notes
Rewritten from scratch mechanism of calculating Average Volume from last Sessions (configurable via Inputs)Release Notes
- Fixed and optimised calculations of Session Average Volume- added predefined settings for time to calculate Session Average for EU and US markets
Release Notes
Completely rewritten from scratch logic of Volume Analysis.Enjoy!
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 publication is governed by House rules. You can favorite it to use it on a chart.
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