Modern VSA [GBB]
Modern VSA marks Volume Spread Analysis bars on the chart, but only the ones that held up when they were checked against real order flow. It is a confluence tool: read the labels together with your own levels, structure and context, not on their own.
HOW IT WORKS
Volume Spread Analysis reads each candle as effort (volume) against result (the bar's range and where it closes). Classic VSA names a pattern and then assumes what the hidden buyers and sellers did. Modern VSA tested that assumption for every classic label, using aggressor-classified trades (who hit the bid, who lifted the offer) on ES and NQ futures.
WHAT YOU SEE
• Spring ▲ below a bar: price broke the low of the previous 10 bars on above-average volume, then closed back in the top 30% of the bar.
• Upthrust ▼ above a bar: the mirror image at the high of the previous 10 bars, closing in the bottom 30%.
• Outlook fan from the latest signal: how price moved over the next 10 bars after the same pattern on this chart's own history (last 5,000 bars), in ATR units, next to a grey band for unlabelled bars of similar volume. Hover the signal label for the numbers: the number of separate cases, how often price went the claimed way compared with bars of the same colour, and the chance check.
• Chance check: the pattern's cases are compared with 200 random placements on the same history. "Rare by chance" means fewer than 5% of the random tries showed a gap this large. Random signals read "rare" about 5% of the time, so a few rare readings on any chart are expected.
• Effort-vs-result candle tint (optional): warm when a bar took more volume than its body suggests, cool when it moved easily. Display only; not tested as a signal.
WHY ONLY TWO LABELS ARE ON
Each classic label was tested on a year of ES and NQ 1-minute data held out from development, then on 2011–2025 tick data that had never been used. The question: does the label's context show the order flow VSA claims, beyond what the candle's own shape, volume and colour already imply?
• Spring and Upthrust: yes. The trapped traders VSA describes are visible in the tape. These bars show the claimed counter-side aggression about 5 to 7 percentage points more often than a plain break of the 10-bar extreme, and the effect was positive in each of the 15 years on both markets. A later, simpler check (against bars of the same colour) found the same flow on gold futures 1-minute bars.
• Climax, Absorption, No Supply and No Demand: no. They looked no different from ordinary bars of the same shape and volume. They are off by default; "Show unchecked labels" brings them back, drawn hollow, for traditional VSA readers.
WHAT IT DOES NOT DO
The labels describe the bar that has just closed. They are not entry signals and do not forecast direction on their own. Apart from a slight lean towards reversal on 1-minute bars, the labels showed no directional edge on 5m, 15m or 1h, before or after costs. Simple trades with or against Spring and Upthrust on ES and NQ, from 15m to 4h, with market or limit entries, did not make money after costs in any tested setup. Use a label as one more piece of evidence at a level you are already watching.
SETTINGS
• Judge volume by time of day (on by default): volume is compared with the same time of day over the last 20 sessions, so the session open does not flag every busy bar. It needs 5 sessions of history at the chart's timeframe; until then the 100-bar average is used and the chart says so.
• Session filter: bars outside the session are never labelled and never enter any calculation.
• Higher-timeframe trend filter (off): an untested convenience. It hides labels against the higher-timeframe EMA slope; it does not make the remaining labels better.
• Classic mode: every label on, plain 100-bar average volume, no Outlook.
• Outlook: latest signal or every signal, keep past fans with the path that followed, fan statistics as text.
• Palette, theme, label size, stats table.
• Alerts: Spring, Upthrust, either of the two, and each unchecked label.
NOTES
• Labels and alerts appear only when the bar closes and are not redrawn afterwards.
• The indicator needs volume data. The order-flow check was done on ES and NQ futures; on other markets the labels follow the same price-and-volume rules, but their order flow has not been checked there.
• The fan and its numbers are descriptive statistics of this chart's own history, not a forecast.
Modern VSA is a confluence tool, not a buy or sell signal.
HOW IT WORKS
Volume Spread Analysis reads each candle as effort (volume) against result (the bar's range and where it closes). Classic VSA names a pattern and then assumes what the hidden buyers and sellers did. Modern VSA tested that assumption for every classic label, using aggressor-classified trades (who hit the bid, who lifted the offer) on ES and NQ futures.
WHAT YOU SEE
• Spring ▲ below a bar: price broke the low of the previous 10 bars on above-average volume, then closed back in the top 30% of the bar.
• Upthrust ▼ above a bar: the mirror image at the high of the previous 10 bars, closing in the bottom 30%.
• Outlook fan from the latest signal: how price moved over the next 10 bars after the same pattern on this chart's own history (last 5,000 bars), in ATR units, next to a grey band for unlabelled bars of similar volume. Hover the signal label for the numbers: the number of separate cases, how often price went the claimed way compared with bars of the same colour, and the chance check.
• Chance check: the pattern's cases are compared with 200 random placements on the same history. "Rare by chance" means fewer than 5% of the random tries showed a gap this large. Random signals read "rare" about 5% of the time, so a few rare readings on any chart are expected.
• Effort-vs-result candle tint (optional): warm when a bar took more volume than its body suggests, cool when it moved easily. Display only; not tested as a signal.
WHY ONLY TWO LABELS ARE ON
Each classic label was tested on a year of ES and NQ 1-minute data held out from development, then on 2011–2025 tick data that had never been used. The question: does the label's context show the order flow VSA claims, beyond what the candle's own shape, volume and colour already imply?
• Spring and Upthrust: yes. The trapped traders VSA describes are visible in the tape. These bars show the claimed counter-side aggression about 5 to 7 percentage points more often than a plain break of the 10-bar extreme, and the effect was positive in each of the 15 years on both markets. A later, simpler check (against bars of the same colour) found the same flow on gold futures 1-minute bars.
• Climax, Absorption, No Supply and No Demand: no. They looked no different from ordinary bars of the same shape and volume. They are off by default; "Show unchecked labels" brings them back, drawn hollow, for traditional VSA readers.
WHAT IT DOES NOT DO
The labels describe the bar that has just closed. They are not entry signals and do not forecast direction on their own. Apart from a slight lean towards reversal on 1-minute bars, the labels showed no directional edge on 5m, 15m or 1h, before or after costs. Simple trades with or against Spring and Upthrust on ES and NQ, from 15m to 4h, with market or limit entries, did not make money after costs in any tested setup. Use a label as one more piece of evidence at a level you are already watching.
SETTINGS
• Judge volume by time of day (on by default): volume is compared with the same time of day over the last 20 sessions, so the session open does not flag every busy bar. It needs 5 sessions of history at the chart's timeframe; until then the 100-bar average is used and the chart says so.
• Session filter: bars outside the session are never labelled and never enter any calculation.
• Higher-timeframe trend filter (off): an untested convenience. It hides labels against the higher-timeframe EMA slope; it does not make the remaining labels better.
• Classic mode: every label on, plain 100-bar average volume, no Outlook.
• Outlook: latest signal or every signal, keep past fans with the path that followed, fan statistics as text.
• Palette, theme, label size, stats table.
• Alerts: Spring, Upthrust, either of the two, and each unchecked label.
NOTES
• Labels and alerts appear only when the bar closes and are not redrawn afterwards.
• The indicator needs volume data. The order-flow check was done on ES and NQ futures; on other markets the labels follow the same price-and-volume rules, but their order flow has not been checked there.
• The fan and its numbers are descriptive statistics of this chart's own history, not a forecast.
Modern VSA is a confluence tool, not a buy or sell signal.
The Good, the Bad and the Bitcoin — No hype, just data.
Free indicators & honest backtests: youtube.com/@TheGoodTheBadAndTheBitcoin
Free indicators & honest backtests: youtube.com/@TheGoodTheBadAndTheBitcoin
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
The Good, the Bad and the Bitcoin — No hype, just data.
Free indicators & honest backtests: youtube.com/@TheGoodTheBadAndTheBitcoin
Free indicators & honest backtests: youtube.com/@TheGoodTheBadAndTheBitcoin
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.