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Volume Spread Analyzer
This indicator is unseen on Tradingview and wants to be the number 1 indicator for the volume spread analysis. Its formula, as simple as useful, compares the effort (volume) of the candle with the results, or the price movement.
This way it's possible to apply the famous Volume Spread Analysis with a simple and complete indicator that's 100% objective.
This indicator can be used on almost any market, but it gives the best results on markets which has constant and high volume, like forex markets, for example.
There are 4 different modes that you can choose from, and all of the use different approaches and techniques to measure the same concept: the efficiency of the price compared to the effort of buyers and sellers:
1. The first one analyzes the formula for ONLY buy candles and ONLY for sell candles, and then plots the column oscillator to show the difference.
2. The second function shows the same formula but applied to any candle, and then confronts the two lines generated by the effort of the positive candle and the negative one as an area. You also have a single-step line on the chart that shows the real-time single-candle effort to result from efficiency.
3. Comparison between the single candle effort and the average efficiency, useful to filter out bad entry candles that could lead to a stop loss.
4. Absorbion analyzer: with this option, you can choose between the single candle and multi-candle mode.
4.1: Single candle mode display, as a pink circle on the oscillator, the candles that are more likely an absorption.
4.2: Multi-candle mode display the summation of the single candle value, to analyze the entire movement and identify the part of the trend that can be absorbed when compared to the other.
For almost any function o the indicator, the fast line input changes the fast line that you see on the chart (i suggest not increasing it above 3 for optimal results), and the slow line changes the moving average or the area that shows the difference between the other lines, you can set the slow line to 1 to have as a result the simple difference of the other lines, or you can set it to a higher value like 50 to show the middle or long term bias.
This way it's possible to apply the famous Volume Spread Analysis with a simple and complete indicator that's 100% objective.
This indicator can be used on almost any market, but it gives the best results on markets which has constant and high volume, like forex markets, for example.
There are 4 different modes that you can choose from, and all of the use different approaches and techniques to measure the same concept: the efficiency of the price compared to the effort of buyers and sellers:
1. The first one analyzes the formula for ONLY buy candles and ONLY for sell candles, and then plots the column oscillator to show the difference.
2. The second function shows the same formula but applied to any candle, and then confronts the two lines generated by the effort of the positive candle and the negative one as an area. You also have a single-step line on the chart that shows the real-time single-candle effort to result from efficiency.
3. Comparison between the single candle effort and the average efficiency, useful to filter out bad entry candles that could lead to a stop loss.
4. Absorbion analyzer: with this option, you can choose between the single candle and multi-candle mode.
4.1: Single candle mode display, as a pink circle on the oscillator, the candles that are more likely an absorption.
4.2: Multi-candle mode display the summation of the single candle value, to analyze the entire movement and identify the part of the trend that can be absorbed when compared to the other.
For almost any function o the indicator, the fast line input changes the fast line that you see on the chart (i suggest not increasing it above 3 for optimal results), and the slow line changes the moving average or the area that shows the difference between the other lines, you can set the slow line to 1 to have as a result the simple difference of the other lines, or you can set it to a higher value like 50 to show the middle or long term bias.
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