OPEN-SOURCE SCRIPT
VPCI & AVSL - Volume Analysis
Description:
This indicator implements two volume-analysis techniques from Buff Dormeier's book "Investing with Volume Analysis" (FT Press, 2011, chapter 17):
1. VPCI (Volume Price Confirmation Indicator) — measures whether volume is CONFIRMING or CONTRADICTING the current price trend, plotted as a histogram in its own panel, with a smoothed line and adjustable alert thresholds.
2. AVSL (Anti-Volume Stop Loss) — a stop-loss/support-resistance zone that adapts to each instrument's own volatility and volume, plotted directly on the price chart (works on any market: forex, gold, crypto, stocks).
V-bottom / V-top pattern: the indicator also plots a Bollinger Band around the VPCI line itself and flags the specific pattern the book describes as its strongest signal — VPCI diving below the lower band and then crossing back above it (a "V-bottom"), which the author uses to mark intermediate-term lows. A symmetric "V-top" case (VPCI spiking above the upper band then crossing back below) is the script author's own extension for the opposite side, not something explicitly described in the book. Both are marked on the chart with shapes and have dedicated alerts.
All formulas were re-implemented from scratch in Pine Script — no code was copied from any other public script. Toggle "Show summary table only" in settings to hide all plots and keep just a compact 5-row status table (VPCI value, status, AVSL buy/sell levels, latest V-pattern).
This script is for educational purposes only and does not constitute financial advice. Always combine with your own risk management.
This indicator implements two volume-analysis techniques from Buff Dormeier's book "Investing with Volume Analysis" (FT Press, 2011, chapter 17):
1. VPCI (Volume Price Confirmation Indicator) — measures whether volume is CONFIRMING or CONTRADICTING the current price trend, plotted as a histogram in its own panel, with a smoothed line and adjustable alert thresholds.
2. AVSL (Anti-Volume Stop Loss) — a stop-loss/support-resistance zone that adapts to each instrument's own volatility and volume, plotted directly on the price chart (works on any market: forex, gold, crypto, stocks).
V-bottom / V-top pattern: the indicator also plots a Bollinger Band around the VPCI line itself and flags the specific pattern the book describes as its strongest signal — VPCI diving below the lower band and then crossing back above it (a "V-bottom"), which the author uses to mark intermediate-term lows. A symmetric "V-top" case (VPCI spiking above the upper band then crossing back below) is the script author's own extension for the opposite side, not something explicitly described in the book. Both are marked on the chart with shapes and have dedicated alerts.
All formulas were re-implemented from scratch in Pine Script — no code was copied from any other public script. Toggle "Show summary table only" in settings to hide all plots and keep just a compact 5-row status table (VPCI value, status, AVSL buy/sell levels, latest V-pattern).
This script is for educational purposes only and does not constitute financial advice. Always combine with your own risk management.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。