Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length. It plots directly on the price chart as a single moving average line. Optional colo
Indicator · Pine Script v6 · On the chart
VSA Smart Signals
A price-chart indicator for volume spread analysis that marks No Demand and No Supply bars.
GitHub stars1on the repository
Pine versionv6current
Lines of code488
Settings31inputs
LicenceNone stated
Last update7 months ago6 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
A signal needs the current volume to be lower than recent bars, by an all-lower or average-lower rule, and optionally a rejection wick of a minimum ratio. Further filters are off by default: narrow spread, a moving average trend filter, next-bar confirmation, effort versus result, ATR-scaled wick thresholds, support and resistance context, prior climax bars and a signal strength score. It can draw labels, arrows and an info table, and the comments mention alerts.
- No Demand and No Supply bar signals
- Volume lookback and rejection wick filters
- Optional trend, climax and S/R filters
- Signal strength score and info table
Details
Published by
abhidp on GitHub
Code credit
dabhi358, as written in the script's header
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Volume
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Volume Lookback Bars | int | 2 | volumeLookback |
| Volume Comparison Method | string | All Lower | volumeMethod |
| Require Rejection Wick | bool | true | requireWick |
| Minimum Wick Ratio | float | 0.3 | minWickRatio |
| Require Narrow Spread | bool | false | useNarrowSpread |
| Spread Average Lookback | int | 20 | spreadLookback |
| Use Trend Filter | bool | false | useTrendFilter |
| Trend MA Length | int | 50 | trendLength |
| Trend MA Type | string | EMA | trendType |
| Require Next Bar Confirmation | bool | false | requireConfirmation |
| Enable Effort vs Result Analysis | bool | false | useEffortAnalysis |
| High Effort Multiplier | float | 1.5 | effortMultiplier |
Show all 31 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Low Result Multiplier | float | 0.5 | resultMultiplier |
| Use ATR-Based Wick Threshold | bool | false | useVolatilityNormalization |
| ATR Length | int | 14 | atrLength |
| ATR Average Lookback | int | 30 | atrLookback |
| Show Signal Strength Score | bool | false | showSignalStrength |
| Minimum Signal Strength | int | 1 | minSignalStrength |
| Require S/R Context | bool | false | useSRContext |
| Swing Lookback | int | 10 | swingLookback |
| S/R Proximity % | float | 1.0 | srProximity |
| Require Multi-Bar Pattern | bool | false | useMultiBarPattern |
| Require Prior Climactic Bar | bool | true | requireClimax |
| Climax Search Bars | int | 3 | climaxLookback |
| Show Labels | bool | true | showLabels |
| Show Arrows | bool | true | showArrows |
| No Demand Color | color | color.red | noDemandColor |
| No Supply Color | color | color.lime | noSupplyColor |
| Label Size | string | small | labelSize |
| Show Info Table | bool | true | showTable |
| Table Position | string | bottom_right | tablePosition |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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