OPEN-SOURCE SCRIPT
Price vs Volume Slope Oscillator + Divergences
Price–Volume Slopes + Participation Oscillator
Price–Volume Slopes compares the normalized slope of Price with the normalized slope of Volume to show whether market participation is supporting or contradicting the current trend.
Instead of simply asking "Is volume increasing?", this indicator asks:
Is price moving faster than participation, or is participation driving price?
This helps identify:
Healthy trends
Weakening trends
Efficient institutional moves
Capitulation
Distribution
Accumulation
Price–Volume divergences
Main Features
📈 Normalized Price Slope
Measures the momentum of a moving average of price.
Default:
EMA 20
📊 Normalized Volume Slope
Measures the momentum of a moving average of volume.
Default:
EMA 20
Using the same lookback length for both creates a fair comparison between price and participation.
📉 Price − Volume Oscillator (optional)
The difference between normalized price slope and normalized volume slope.
Positive values:
Price is leading participation.
Negative values:
Participation is leading price.
The histogram and signal line are disabled by default to keep the chart clean and can be enabled whenever additional confirmation is needed.
Participation Regimes
🟢 Strong Bull Begins (SB)
Price slope ↑
Volume slope ↑
A healthy bullish trend supported by increasing participation.
🟢 Efficient Bull Begins (EB)
Price slope ↑
Volume slope ↓
Price continues higher despite declining participation.
This often indicates an efficient trend driven by stronger buyers, but prolonged moves can eventually become exhausted.
🔴 Strong Bear Begins (SBr)
Price slope ↓
Volume slope ↑
A healthy bearish trend supported by increasing selling participation.
🟠 Capitulation Begins (CAP)
Large negative price slope with exceptionally strong volume.
May represent:
Panic selling
Liquidations
Bearish continuation
Potential selling climax
Confirmation from price action is recommended.
🟣 Distribution (DIST)
Flat price
High volume
Large trading activity without meaningful price progress.
Often associated with absorption or distribution.
🔵 Accumulation (ACC)
Flat price
Low volume
Quiet market with little directional commitment.
May precede a larger move but should not be treated as a signal by itself.
Pivot Price–Volume Signals
The indicator also detects four confirmed pivot relationships.
Signals are plotted only after the selected number of confirmation candles.
🟣 BW — Bearish Weakening
P↑ V↓
Price makes a Higher High while volume makes a Lower High.
Buyers are pushing price higher with less participation.
Potential bearish warning.
🟢 BuW — Bullish Weakening
P↓ V↓
Price makes a Lower Low while volume makes a Lower Low.
Selling pressure is weakening.
Potential bullish warning.
🔴 BC — Buying Climax
P↑ V↑
Price makes a Higher High while volume also increases.
May indicate:
Strong bullish continuation
Buying climax
Distribution near a top
Requires price confirmation.
🟢 SC — Selling Climax
P↓ V↑
Price makes a Lower Low while volume increases.
May indicate:
Strong bearish continuation
Panic selling
Selling climax
Institutional absorption
Requires price confirmation.
Tooltips
Every regime marker and every pivot signal includes a tooltip explaining:
Signal name
Price behaviour
Volume behaviour
Market interpretation
Typical confirmation
Best Used With
Market Structure (BOS / CHoCH)
Liquidity Sweeps
Wyckoff Springs & Upthrusts
Fair Value Gaps (FVG)
RSI or MACD Divergences
Support & Resistance
Order Blocks
The highest-probability setups occur when multiple forms of confirmation align.
Notes
This indicator measures participation, not prediction.
Strong participation supports trends.
Weak participation often warns that trends are losing conviction.
Volume climaxes identify areas where large market activity is occurring but do not automatically signal reversals.
Always combine Price–Volume analysis with price structure and confirmation before making trading decisions.
Price–Volume Slopes compares the normalized slope of Price with the normalized slope of Volume to show whether market participation is supporting or contradicting the current trend.
Instead of simply asking "Is volume increasing?", this indicator asks:
Is price moving faster than participation, or is participation driving price?
This helps identify:
Healthy trends
Weakening trends
Efficient institutional moves
Capitulation
Distribution
Accumulation
Price–Volume divergences
Main Features
📈 Normalized Price Slope
Measures the momentum of a moving average of price.
Default:
EMA 20
📊 Normalized Volume Slope
Measures the momentum of a moving average of volume.
Default:
EMA 20
Using the same lookback length for both creates a fair comparison between price and participation.
📉 Price − Volume Oscillator (optional)
The difference between normalized price slope and normalized volume slope.
Positive values:
Price is leading participation.
Negative values:
Participation is leading price.
The histogram and signal line are disabled by default to keep the chart clean and can be enabled whenever additional confirmation is needed.
Participation Regimes
🟢 Strong Bull Begins (SB)
Price slope ↑
Volume slope ↑
A healthy bullish trend supported by increasing participation.
🟢 Efficient Bull Begins (EB)
Price slope ↑
Volume slope ↓
Price continues higher despite declining participation.
This often indicates an efficient trend driven by stronger buyers, but prolonged moves can eventually become exhausted.
🔴 Strong Bear Begins (SBr)
Price slope ↓
Volume slope ↑
A healthy bearish trend supported by increasing selling participation.
🟠 Capitulation Begins (CAP)
Large negative price slope with exceptionally strong volume.
May represent:
Panic selling
Liquidations
Bearish continuation
Potential selling climax
Confirmation from price action is recommended.
🟣 Distribution (DIST)
Flat price
High volume
Large trading activity without meaningful price progress.
Often associated with absorption or distribution.
🔵 Accumulation (ACC)
Flat price
Low volume
Quiet market with little directional commitment.
May precede a larger move but should not be treated as a signal by itself.
Pivot Price–Volume Signals
The indicator also detects four confirmed pivot relationships.
Signals are plotted only after the selected number of confirmation candles.
🟣 BW — Bearish Weakening
P↑ V↓
Price makes a Higher High while volume makes a Lower High.
Buyers are pushing price higher with less participation.
Potential bearish warning.
🟢 BuW — Bullish Weakening
P↓ V↓
Price makes a Lower Low while volume makes a Lower Low.
Selling pressure is weakening.
Potential bullish warning.
🔴 BC — Buying Climax
P↑ V↑
Price makes a Higher High while volume also increases.
May indicate:
Strong bullish continuation
Buying climax
Distribution near a top
Requires price confirmation.
🟢 SC — Selling Climax
P↓ V↑
Price makes a Lower Low while volume increases.
May indicate:
Strong bearish continuation
Panic selling
Selling climax
Institutional absorption
Requires price confirmation.
Tooltips
Every regime marker and every pivot signal includes a tooltip explaining:
Signal name
Price behaviour
Volume behaviour
Market interpretation
Typical confirmation
Best Used With
Market Structure (BOS / CHoCH)
Liquidity Sweeps
Wyckoff Springs & Upthrusts
Fair Value Gaps (FVG)
RSI or MACD Divergences
Support & Resistance
Order Blocks
The highest-probability setups occur when multiple forms of confirmation align.
Notes
This indicator measures participation, not prediction.
Strong participation supports trends.
Weak participation often warns that trends are losing conviction.
Volume climaxes identify areas where large market activity is occurring but do not automatically signal reversals.
Always combine Price–Volume analysis with price structure and confirmation before making trading decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.