[MattLet] Relative Volume for VSA

22 dic 2021

The Volume Spread Analysis (VSA) methodology focus at the relationship between price, spread, and volume, trying to identify the variations that the price of an asset may have bar by bar, candle by candle.

This indicator is based on calculates on the average volume of the bars in a close environment, that indicates when the volume is Ultrahigh, Very high , High , Normal and low.
The configuration setted is based on personal study. You can configurate the volume ratios per level, and try different results.

The indicator colors the volume bars and candles according to the volume traded.
Base colors configuration is a kind of heat map (don't forget to check the option to paint candles), but you can customize it as you wish.

Good Luck!

5 mar 2022

Note di rilascio

Little improvement added:
The Value Zero imput non editable now. This imput doesn't apply any change on calculations, so I take off it to avoid confutions.

How the indicator edition works:
If you want to modify the value of a volume bar, you must understood whats the range delimitation for each Volume type.

Following the example of the default configuration:
Value above 2.2 is Ultra High Volume range
Value above 1.4 and below 2.2 is Very High Volume range
Value above 0.8 and below 1.4 is High Volume range
Value above 0.45 and below 0.8 is Normal Volume range
Value below 0.45 is Low Volume range

Of course you can modify all these ranges as you like.

Important: You have to keep in mind that modifying a value automatically change the next volume range.
Example of this: If you change NormalVol minimun to 0.35, your LowVol value range now is in between 0 and "0.35" and obviously the color representation is changed too.

Good Luck!

5 mar 2022

Note di rilascio

New update 03/05/2022

5 mar 2022

Note di rilascio

Plot type options enabled - 03/05/2022

5 mar 2022

Note di rilascio

Plot type options enabled - 03/05/2022

18 mar 2022

Note di rilascio

MA color edition enabled - 03/18/2022