Volume Spread Indicator
This Indicator shows SV(Stopping Volume), NS (No Supply), ND (No Demand), -RC( Reverse Candle). Stopping volume and No supply appearing at key support level indicates Bullish Reversal. -RC and ND appearing at key resistance level indicate Bearish Reversal. This indicator can be used as Bottom and Top.
This Indicator can be used effectively with the combination of AutoFibe indicator, Scalping sell and buy Indicator.
Stopping Volume is shown as SV
No Demand is shown as a triangle down (Red)
No Supply is shown as a triangle up (Green)
Reverse Candle is shown as -RC
Indicator shows SV when a current candle is green and any of the previous 2 candles had Stopping volume
Stopping Volume and Reversal candle helps to determine the trend reversal at the Support and Resistance. Based on previous SV and RC, we can determine the Volume based Support and Resistance for future price action.
Anchor bars are formed with high volume and with wide spread or with a huge Gap. Anchor bars are exhaustive moves. These Anchor bars create Anchor Zone which acts as a Support and Resistance.
Stopping Volume or No Demand, No Supply or Reversal Candle forming near these Anchor Zones are very significant.
Default view shows High and Low zones. There is option in the settings to add Close and Open zones.
Increasing the RAV Size reduces number of Anchor zones and decreasing the RAV increases Anchor zones
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact vickyprudhvi directly.
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Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
PayPal - paypal.me/vickyprudhvi
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact vickyprudhvi directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
PayPal - paypal.me/vickyprudhvi