Welkin Advanced Volume Study (for VSA)

This is a translation of Welkin's Advanced Volume Study Indicator originally written for ThinkOrSwim. This version is simpler than Welkin's and attempts to streamline that basic functionality for beginners to Volume Spread Analysis.

This can be used to replace the built-in volume bar with a more advanced version that is designed to facilitate Volume Spread Analysis. The basic idea is to clearly call out areas of high and low volume that help a trader determine where to "Smart Money" may be attempting to move the market. Volume is an incredible powerful tool for the retail trader; learn how to use it.

Grey bar are Below Average volume .
Blue bars are Average Volume , from a 20sma of volume .
Orange bars are 2-sigma (or 2 standard deviations) above average.
Magenta bars are 3-sigma (3 standard deviations) above average.
The plotted lines represent these levels.

Yellow bars have relatively higher volume compared to the previous bar.

The study can also apply these same colors to the price candles themselves, as well as showing buying and selling pressure of the volume bars.
Versionshinweise: Fixed bug where 2- and 3- sigma levels didn't update with changes to volume average type.
Versionshinweise: 1) Added a sigma-4 level to the possible volume tiers, represented by white bars/candle colors.
Versionshinweise: Added a toggle for the volume moving average plots and cleaned up some color code.
Versionshinweise: Fixed a problem whereby the blue volume average MA didn't hide when intended.
Versionshinweise: Added a toggle for ignoring extended hours when calculating the volume averages.
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?


Thanks Sir,
Great work,
Can you Pls explain, how to work Buying & Selling presser work on chart & also can you add this chart high volume candle upper & lower lines

Thanks again
+6 Antworten
Probably the most readable script related to VSA on TV. Thanks!
+1 Antworten
Great work
+1 Antworten