VSA Volume Color
- Indicators
-
Thanh Tuan Nguyen
I'm an independent trader and developer passionate about Price Action, Wyckoff, and Volume Spread Analysis (VSA).
I build practical trading tools to simplify chart analysis and support better trading decisions. - Version: 1.0
Instantly see how strong each bar's volume really is. VSA Volume Color classifies tick volume into 6 color-coded levels using Wilder's Moving Average — so you always know when Smart Money is active and when the market is quiet.
The problem most traders face:
A standard volume histogram tells you how much — but not how significant. Every bar looks similar. You have no quick way to tell whether this volume spike is truly abnormal, or just slightly above average noise.
What VSA Volume Color does:
This indicator replaces the default volume panel with a 6-level color-classified histogram, calculated using Wilder's Moving Average (RMA) for smooth, lag-reduced sensitivity.
Volume levels:
- 🟣 Purple — Ultra High (≥ 2.2× avg): Smart Money maximum effort
- 🟡 Gold — Very High (≥ 1.8× avg): Strong institutional activity
- 🟠 Orange — High (≥ 1.2× avg): Above average interest
- 🟢 Green — Normal (≥ 0.8× avg): Balanced market activity
- 🔵 Blue — Low (≥ 0.4× avg): Weak participation
- ⚫ Gray — Very Low (< 0.4× avg): Market disinterest
An optional MA line is overlaid on the histogram so you always see the baseline at a glance.
Who is this for:
VSA, Wyckoff, and Smart Money Concept traders on MT5 who want instant visual clarity on volume strength — without mental calculation or manual comparison.
Key benefits:
- 6 levels of volume classification — not just high/low
- Wilder MA baseline gives smooth, reliable average without lag spikes
- Optional MA line display for quick visual reference
- Fully customizable thresholds — tune to your instrument and timeframe
- Works perfectly alongside VSA Candle Color for a complete VSA setup
Settings:
- MA_Period (default 20) — lookback for average volume calculation
- ShowMA (default true) — toggle the MA line display
- Ratio_Ultra (default 2.2) — Ultra High threshold
- Ratio_VeryHigh (default 1.8) — Very High threshold
- Ratio_High (default 1.2) — High threshold
- Ratio_Normal (default 0.8) — Normal threshold
- Ratio_Low (default 0.4) — Low threshold
Other tools in the VSA series from MR.CONNECT:
- → For traders who want to see abnormal volume highlighted directly on candles, check out VSA Candle Color
- → Want to catch shifts in buying/selling pressure early? VSA CVD Histogram tracks Cumulative Volume Delta and helps you detect unusual divergences in time to form the right bias — so you can tell which side, buyers or sellers, is winning and trade with that flow.
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When you learn to use this indicator effectively, you will feel more in sync with the market — entering at better moments and improving your win rate over time.
However, this is not a Holy Grail. You must always respect the probabilistic nature of the market and manage your risk with discipline.
When all of these elements come together, we believe you will become a consistently profitable trader. Good luck and trade well.
Excellent and helpful indicator! Thank you very much!