OPEN-SOURCE SCRIPT
VSA-Stopping Volume
VSA Stopping Volume Indicator
Stopping Volume occurs when candles show decreasing body sizes (narrow spreads) while volume steadily increases.
Example chart:
As you see:
This pattern indicates price absorption - increased buying/selling pressure but declining price movement, often signaling exhaustion and potential reversal.
Indicator Features
This indicator detects Stopping Volume candlestick clusters with two signal types:
๐น BUY/SELL Signals: Generated when pattern occurs at support/resistance zones
๐น Directional Alerts (โฒ-green, โผ-red): Generated when pattern occurs outside key levels
Trading Guidelines:
โ ๏ธ Auto-drawn S/R zones are reference only - manual level plotting recommended for accuracy
๐ Best for scalping: M5, M10, M15 timeframes
๐ก๏ธ Stop Loss: Place beyond the S/R zone you're trading
๐ฏ Take Profit: Based on your risk management
Key Concept: Volume expansion + price contraction = potential reversal, especially at SnR levels.
Perfect for scalpers looking to catch reversals at critical zones!
Stopping Volume occurs when candles show decreasing body sizes (narrow spreads) while volume steadily increases.
Example chart:
As you see:
- 3 consecutive candles in same direction (all green OR all red)
- Body sizes (spreads) decreasing progressively: Candle 1 > Candle 2 > Candle 3
- Volume increasing progressively: Volume 1 < Volume 2 < Volume 3
This pattern indicates price absorption - increased buying/selling pressure but declining price movement, often signaling exhaustion and potential reversal.
Indicator Features
This indicator detects Stopping Volume candlestick clusters with two signal types:
๐น BUY/SELL Signals: Generated when pattern occurs at support/resistance zones
๐น Directional Alerts (โฒ-green, โผ-red): Generated when pattern occurs outside key levels
Trading Guidelines:
โ ๏ธ Auto-drawn S/R zones are reference only - manual level plotting recommended for accuracy
๐ Best for scalping: M5, M10, M15 timeframes
๐ก๏ธ Stop Loss: Place beyond the S/R zone you're trading
๐ฏ Take Profit: Based on your risk management
Key Concept: Volume expansion + price contraction = potential reversal, especially at SnR levels.
Perfect for scalpers looking to catch reversals at critical zones!
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.
Day trader with RSI.
RSI 101 at rsi-101.gitbook.io/book
Telegram: t.me/daorsichat
RSI 101 at rsi-101.gitbook.io/book
Telegram: t.me/daorsichat
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.
Day trader with RSI.
RSI 101 at rsi-101.gitbook.io/book
Telegram: t.me/daorsichat
RSI 101 at rsi-101.gitbook.io/book
Telegram: t.me/daorsichat
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.