Normalized volume-price spread analysis indicator can be helpfully tool in Tom's William metodology - VSA. The indicator use normalized data by y/x(max) operation, where x(max) is the biggest value in range. Indicator separate spread to four levels - standard divation is separator.
The indicator graphically shows: - normalized volume, visualized by wide column, - normalized price spread, visualized by narrow column, - linear regression calculated from normalized volume, visualised by crosses, - linear regression from normalized price spread, visualized by circles.
Columns are marked by five colors according to standard deviation: - blue x<first deviation, - green x< second deviation, - red x>second deviation, x<fourth deviation, - fuchsia x>fourth deviation, - gold when volume or price spread achive new maximum in analysis range.
Linear regression uses three colors: - green when volume/spread is up bar by bar, - red when volume/spread is down bar by bar, - black when volume/spread is down two times bar by bar.
Additionally, it is posible to use alarm on Golden Bar. Colors and range values are editable from indicator settings.
Versionsinformation
⋅
- minor language - volume std display fix - added alerts for all volume and price spread events