Volume Spread Analysis.

Overview

Compare trading activity with price range.

This indicator places volume beside spread, the distance from a candle’s high to its low. It highlights bars whose volume and range differ from their recent averages, and can label rule-based VSA and candle patterns. This is a way to examine possible effort-versus-result mismatches, not a direct measurement of trader intent.

Display

Low, normal, high, and ultra levels.

Moving averages and configurable multipliers divide volume and spread readings into colour-coded levels. You can show either series or both, set the spread-bar lookback, and use the optional legend for context. Unlike the Auto VSA variant, this page’s script uses a fixed spread-bar lookback rather than recalculating its displayed spread bars for the visible chart.

Patterns

Treat labels as conditions to inspect.

Optional labels group patterns into possible strength, possible weakness, and neutral conditions. They include thrusts, climaxes, no-supply or no-demand readings, and neutral candle shapes. Independent candle-pattern labels are also available. The settings include tooltips explaining individual criteria.

The same pattern can appear in very different market settings. Check trend, nearby levels, and subsequent price action before drawing a conclusion.

Forecasts and alerts

Separate live estimates from confirmed bars.

On an open candle, optional volume and spread projections estimate a possible end-of-bar reading. They are not final and may move as the candle develops. Alerts can cover confirmed VSA patterns and volume or spread levels, as well as selected forecast levels. Forecast alerts can wait for a minimum portion of the bar to pass.

You can tailor averages, multipliers, colours, price-bar colouring, label display, and alert conditions. Data quality and available volume differ across markets, so compare the plotted bars with the chart’s underlying data.