//@version=2 study("Volume Spread Analysis", shorttitle="VSA") //Volume Spread Analysis //Analisis de propagacion en Volumen // devicemxl --> TradingView Site volumex=volume//*(close>close ? 1 : -1) V_OPEN = V_CLOSE V_CLOSE = close*volumex V_HIGH = max(max(high*volumex,V_CLOSE),V_OPEN) V_LOW = min(min(low*volumex,V_OPEN),V_CLOSE) V_HL2 = ( V_HIGH + V_LOW ) / 2 plotcandle(V_LOW, V_HIGH, V_LOW, V_CLOSE, title='VSA', color = open < close ? #e5f7ff : #ffe5e5, wickcolor=black)
Maybe are more, or more precise but i see some signals:
22:59 the price trend don't disappear but the volume flow yes, you can see how is stop the trend
23:00 to 23:03 the price trend change the direction, but you can see how the volume trend is exhaust, only few bulls are putting positions.
23;04 the the bull trend not fall but the volume indicate a bear signal
23:08 the downtrend are end, a candle without body appear
23:09 the last push for the bear trend, this can be a continuation? no.
23:10 nop, the bull trend appear with force
if you see a candle without body you don't have positions to impulse the trend
if you look a very large, a great body candle, will be the same phenomenon like commonly has the price: will be have a reversal.
if you see more blue than red, you are in a bull market
i select the time frame for this last point: we can think if see the graph in a reversal point, you know are in a down trend channel and in this moment are escaping from there... is the effect of a 1 minute graph, but if you see the 1d graph at the 28/01/16 you can see how are immerse in a big down trend.