CatTheTrader

nVPSA - Normalized Volume-Price Spread Analysis

CatTheTrader Updated   
Normalized volume-price spread analysis indicator can be helpfully tool in Tom's William metodology - VSA.
The indicator use normalized data by y/x(max) operation, where x(max) is the biggest value in range. Indicator separate spread to four levels - standard divation is separator.


The indicator graphically shows:
- normalized volume, visualized by wide column,
- normalized price spread, visualized by narrow column,
- linear regression calculated from normalized volume, visualised by crosses,
- linear regression from normalized price spread, visualized by circles.

Columns are marked by five colors according to standard deviation:
- blue x<first deviation,
- green x< second deviation,
- red x>second deviation, x<fourth deviation,
- fuchsia x>fourth deviation,
- gold when volume or price spread achive new maximum in analysis range.

Linear regression uses three colors:
- green when volume/spread is up bar by bar,
- red when volume/spread is down bar by bar,
- black when volume/spread is down two times bar by bar.

Additionally, it is posible to use alarm on Golden Bar. Colors and range values are editable from indicator settings.
Release Notes:
- minor language
- volume std display fix
- added alerts for all volume and price spread events

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

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