OPEN-SOURCE SCRIPT
PVSRA Candles Hunter v1.2
A volume-spread analysis indicator that classifies every candle by the relationship between its volume and spread, matching the original MT4 PVSRA detection logic. Identifies climax volume, above-average volume, and absorption candles through color-coded visualization.
What PVSRA is
PVSRA stands for Price, Volume, Spread, Relative Analysis. The core idea: not all candles are equal. A candle with 3x average volume and a wide spread represents aggressive institutional activity. A candle with 3x average volume but a tiny spread represents absorption ... institutions quietly absorbing orders at a price level, often preceding a reversal. Standard charts treat all candles the same. PVSRA does not.
How classification works
Each candle is classified into one of three categories based on two metrics:
Metric 1: Volume relative to the simple average over the lookback period (default 10 bars).
Metric 2: Effort value, calculated as volume multiplied by spread (high minus low). This captures not just volume alone but the "effort" behind the move.
Classification logic (matching the original MT4 source):
Bull or bear is determined by close versus open.
Absorption detection
When a candle qualifies as climax volume but has a spread less than half the average spread, it is flagged as absorption. This means massive volume was transacted but price barely moved. Institutions are absorbing sell orders (bullish absorption) or buy orders (bearish absorption) at that level. Absorption candles frequently mark turning points.
Color scheme (standard PVSRA palette)
Climax bull: lime. Climax bear: red. Above average bull: blue. Above average bear: fuchsia. Normal bull: white. Normal bear: gray. All colors are configurable in settings.
Display modes
Three modes are available: Candle Color (recolors the candle body and wicks), Background (subtle highlight behind the candle without changing candle colors), or Both. This lets you combine PVSRA with other candle-coloring indicators if needed.
Volume source override
Many CFD brokers report tick volume rather than real exchange volume. Tick volume on CFDs is unreliable for PVSRA analysis because it measures broker-specific tick counts, not actual contracts traded. The override feature lets you pull real volume from a liquid exchange source. For example: use COMEX:GC1! volume when charting XAUUSD on a CFD broker, or INDEX:BTCUSD when charting BTCUSDT on a low-volume feed. When override is off, native chart volume is used.
Optional features
Labels: C▲/C▼ marks climax candles, ABS marks absorption candles. Off by default to keep the chart clean.
Stats table: shows current volume, average volume, volume ratio, and classification. Useful for understanding the numbers behind the colors. Position is configurable. Off by default.
Alerts
Six alert conditions: Climax Bull, Climax Bear, Above Average Bull, Above Average Bear, Absorption Detected, Any Vector Candle. Absorption alerts are particularly useful as early reversal warnings.
How to use
Add the indicator to your chart. Climax candles (lime/red) at key support or resistance levels signal strong institutional interest. Absorption candles at those same levels are high-probability reversal signals. Above-average candles (blue/fuchsia) confirm momentum. Normal candles in a trend are continuation ... normal candles in a range are noise.
The indicator works on any instrument and any timeframe. For CFD instruments, enable the volume override and point it to the corresponding futures or index feed for accurate classification.
Settings
Volume: lookback period (default 10), climax multiplier (default 2.0x), above-average multiplier (default 1.5x). Display: mode selection, label toggle, stats table toggle. Colors: full PVSRA palette customization. All defaults match the standard PVSRA configuration from the original MT4 implementation.
What is original
The PVSRA classification logic faithfully reproduces the MT4 source. The additions are: volume source override for CFD feeds (solving the tick volume problem), absorption detection (climax volume with narrow spread), three display modes, configurable stats table, and structured alert conditions for each classification type.
What PVSRA is
PVSRA stands for Price, Volume, Spread, Relative Analysis. The core idea: not all candles are equal. A candle with 3x average volume and a wide spread represents aggressive institutional activity. A candle with 3x average volume but a tiny spread represents absorption ... institutions quietly absorbing orders at a price level, often preceding a reversal. Standard charts treat all candles the same. PVSRA does not.
How classification works
Each candle is classified into one of three categories based on two metrics:
Metric 1: Volume relative to the simple average over the lookback period (default 10 bars).
Metric 2: Effort value, calculated as volume multiplied by spread (high minus low). This captures not just volume alone but the "effort" behind the move.
Classification logic (matching the original MT4 source):
- Climax: volume is at least 2x the average, OR the effort value equals the highest effort value in the lookback period
- Above Average: volume is at least 1.5x the average (but does not qualify as climax)
- Normal: everything else
Bull or bear is determined by close versus open.
Absorption detection
When a candle qualifies as climax volume but has a spread less than half the average spread, it is flagged as absorption. This means massive volume was transacted but price barely moved. Institutions are absorbing sell orders (bullish absorption) or buy orders (bearish absorption) at that level. Absorption candles frequently mark turning points.
Color scheme (standard PVSRA palette)
Climax bull: lime. Climax bear: red. Above average bull: blue. Above average bear: fuchsia. Normal bull: white. Normal bear: gray. All colors are configurable in settings.
Display modes
Three modes are available: Candle Color (recolors the candle body and wicks), Background (subtle highlight behind the candle without changing candle colors), or Both. This lets you combine PVSRA with other candle-coloring indicators if needed.
Volume source override
Many CFD brokers report tick volume rather than real exchange volume. Tick volume on CFDs is unreliable for PVSRA analysis because it measures broker-specific tick counts, not actual contracts traded. The override feature lets you pull real volume from a liquid exchange source. For example: use COMEX:GC1! volume when charting XAUUSD on a CFD broker, or INDEX:BTCUSD when charting BTCUSDT on a low-volume feed. When override is off, native chart volume is used.
Optional features
Labels: C▲/C▼ marks climax candles, ABS marks absorption candles. Off by default to keep the chart clean.
Stats table: shows current volume, average volume, volume ratio, and classification. Useful for understanding the numbers behind the colors. Position is configurable. Off by default.
Alerts
Six alert conditions: Climax Bull, Climax Bear, Above Average Bull, Above Average Bear, Absorption Detected, Any Vector Candle. Absorption alerts are particularly useful as early reversal warnings.
How to use
Add the indicator to your chart. Climax candles (lime/red) at key support or resistance levels signal strong institutional interest. Absorption candles at those same levels are high-probability reversal signals. Above-average candles (blue/fuchsia) confirm momentum. Normal candles in a trend are continuation ... normal candles in a range are noise.
The indicator works on any instrument and any timeframe. For CFD instruments, enable the volume override and point it to the corresponding futures or index feed for accurate classification.
Settings
Volume: lookback period (default 10), climax multiplier (default 2.0x), above-average multiplier (default 1.5x). Display: mode selection, label toggle, stats table toggle. Colors: full PVSRA palette customization. All defaults match the standard PVSRA configuration from the original MT4 implementation.
What is original
The PVSRA classification logic faithfully reproduces the MT4 source. The additions are: volume source override for CFD feeds (solving the tick volume problem), absorption detection (climax volume with narrow spread), three display modes, configurable stats table, and structured alert conditions for each classification type.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.