Volume Pressure Analysis is designed to show effort required to move price. This script is the overlay version that displays signals on the candles as well as changes the bar colors. Yellow arrows signal pressure in that direction and excessive amounts of volume is required to move price. These signals can lead to reversal/pivot points as price action struggles to continue its trend. Red and teal arrows indicate free flowing price action where very little effort or volume is needed to push price. These signals can confirm the beginning or continuation of a trend and is the natural direction the chart wants to travel at that time. For more information please check out the main Volume Pressure Analysis indicator.
my signal didnt down. how can look like ur signal?? ur bar is up, and down. but my signal is only up!
WinnerCYI
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@sul07041, where is second inditator? (volume pressure analsysis)
veryfid
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@sul07041, Hi, in the settings you can choose a theme which will change the indicator.
BTT007
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Is there a reason why the histogram will not show? Arrows are on the bars but no volume histogram.
zera180
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Thank you so much for sharing this.. I'm finding real advantages with it.
babygocare
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veryfid hey really like this indicator. i have been using it and been so nice especially when you are jumping into a stock moving fast... gives some gauge of what is going on. I added a label with the rvol above or below the triangle just so that i did not need to look at the pressure chart. I had a question on the pressure analysis chart you have the following:
if showlsma21 and not showlsma6 cond1 := crossover(ma2,0) or crossover(ma3,0) if showlsma6 and not showlsma21 cond1 := crossover(ma2,0) or crossover(ma4,0) if showlsma6 and showlsma21 cond1 := crossover(ma2,0) or crossover(ma3,0) or crossover(ma4,0) plotshape(showentry? cond1 : na, title="Entry Signal", location=location.top, style=shape.circle, size=size.tiny, color=color.yellow, transp=0)
So basically if the volume ma for the various periods crosses above 0 over the last x sessions then there is a entry signal? So this signal could mean depending on the trend that a trade could be to the short or long side? Also during accumulation naturally you would get significant signals due to the fact that it does not take much to push the averages above 0? What do you think about adding a piece that looks at the EMA trends that the signal could indicate to go long or short? I guess of there is say a crossunder of the 9ema below say the 20ema then you know to signal short... and when the 9ema crosses above the 20 ema you signal long. BUT for a high speed day trader the issue really is by the time the market structure lays itself out the move might be over... do you agree?
Looks like it is most accurate for day trading. Anyone tried different with better results? Great indicator!