Volume Spread Analysis (VSA) Indicator is based on the correlation between price action and volume. VSA measures the strencht of buyers and sellers in the market by analyzing the relationship between the quantity of volume on a price bar, the spread of the price (bar range) and the closing price. In this way we can obtain the balance between supply and demand of the currency pair, as well as the upcoming direction of the market.
- Green: Increasing spread and volume: price should continue in this direction.
- Red: Decreasing spread and increasing volume: direction move may be losing steam.
- Blue: Increasing spread and decreasing volume: price is moving without strong participation.
- Gray: Decreasing spread and decreasing volume: ranging market.
- File: VSA.mq4
- Size: 6 Kb