PVSRA Auto [PhantomCipher]

PVSRA Auto

PVSRA Auto colours volume by how unusual it is, using the PVSRA (Price, Volume, Support and Resistance Analysis) method. Candles with unusually high volume, often called "vector candles", stand out from ordinary ones, so you can see where larger participants may be active.

SNAPSHOT: a 15m chart with the indicator in its pane, showing green, red, blue and fuchsia vector volume among grey normal volume

Shown on the 15-minute chart
The snapshots use the 15-minute timeframe. The indicator works on any timeframe, because each candle is always compared with the 10 candles before it on the same chart.

How it works
Each candle's volume is compared with the average volume of the previous 10 candles:

Peak (200%): volume is at least twice that average, or volume multiplied by the candle's range (high minus low) is the highest of the last 10 candles. Green for bullish, red for bearish.
Rising (150%): volume is at least 1.5 times that average. Blue for bullish, fuchsia for bearish.
Normal: everything else. Light grey for bullish, dark grey for bearish.

A candle counts as bullish when it closes above its open, and bearish otherwise.

The two tests behind a Peak candle:

Pine Script®

SNAPSHOT: a 15m close-up of a Peak vector candle, with its volume column and candle colour side by side

Volume Source Settings

Use Vol of the equivalent BINANCE PERP Chart: on by default. On crypto symbols, the indicator reads volume and prices from the matching Binance perpetual (for example BINANCE:BTCUSDT.P), which usually has deeper volume than a single spot exchange. If that perpetual doesn't exist, it uses the chart's own data.
Force Symbol: off by default. When checked, every calculation uses the symbol you pick instead, on any market.

Candle Colours

Set PVSRA candle colours on chart: off by default. When checked, the chart's candles take the same colours as the volume columns. Turning off candle borders in the chart settings makes the colours easier to read.
All six colours (Peak, Rising and Normal, each bullish and bearish) can be changed in the same section.

Alerts

Any Vector Candle
Any Volume Peak(200%) Vector Candle
Any Volume Rising(150%) Vector Candle
Volume Peak(200%) Bullish / Bearish Vector Candle
Volume Rising(150%) Bullish / Bearish Vector Candle

Create alerts with Once Per Bar Close. Volume keeps building while a candle is open, so a candle can become a vector candle, or change class, before it closes.

Limitations

When volume comes from a Binance perpetual or a forced symbol, the colours describe that market's volume and candle direction, which can differ slightly from the chart you're viewing.
The symbol, or the source it reads from, must have volume data.

Example chart:

This indicator highlights unusual volume. It's not a trading signal on its own, so combine it with your own analysis and risk management.

Script open-source

Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.

phantomcipher

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Script open-source

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