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Real Volume Spread Analysis Indicator

Volume Spread Analysis Indicator is based on the VSA methodology developed originally by Richard Wyckoff and then computerized and further developed by Tom Williams.

The indicator shows the VSA signals on the chart. Every VSA signal has its own graphical arrow.

General Rules


  • Arrows below a bar mean strength
  • Arrows above a bar mean weakness


  • YellowGreen, Green - signals of strength
  • Magenta, Red - signals of weakness
  • Yellow - signal of caution
  • YellowGreen is stronger signal than green
  • Magenta is stronger signal than red

For extra information move mouse on arrows and read the explanation.


  • volume_indi_name - if you want to use real volume (CME) and you have MT4 indicator for it, just replace this parameter by your indicator's name which includes real volume. You need an indicator with real volume, it is not included. If you have not one, the indicator will use tick volume
  • mode_vol - number of buffer which includes real volume, default is 0 - first buffer
  • show_alertx - set true if you want alerts about Buying/Selling climax
  • shift - set true to shift the chart to the left
  • refreshing_block - chart refreshing time in milliseconds (for better performers, bigger delays)
  • refreshing_check - frequency of a chart refresh necessity check (for better performers, bigger delays)
  • bars_to_average - number of bars used to calculate the average

To switch off the default template, set global variable "no_template" to 1.

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