VTS ll

Indicator Disclaimer | Report this indicator

General Idea

This indicator identifies and tracks the high-low range of the bar that had the highest volume within a rolling lookback period. It continuously monitors this "volume bar range" and generates breakout/breakdown signals when price crosses above or below this range with strong volume confirmation. Think of it as dynamically tracking support and resistance levels based on where the most trading activity occurred recently.

How the Volume Bar Range Works

The indicator scans back a configurable number of bars (default 75) to find which bar had the highest volume. Once identified, it paints a shaded area representing the high and low of that specific bar on your chart. This range updates whenever a new bar takes over as the highest-volume bar in the lookback window. The shaded area appears in aqua when the range stays the same and briefly flashes white when it resets to a new volume bar.

Breakout and Breakdown Signals

The indicator generates two types of signals for use in alerts and scanners:

Breakout Signal: Triggers when price closes above the volume bar's high with three confirmations: (1) current volume exceeds the 20-period volume average, (2) current volume is higher than the previous bar, and (3) the close is in the upper half of the current bar's range
Breakdown Signal: Triggers when price closes below the volume bar's low with the same volume confirmations, but the close must be in the lower half of the current bar's range

These signals help identify meaningful breaks of the volume-based range rather than just any price crossing.

Usage Notes

The lookback period controls how far back the indicator searches for the highest volume bar—shorter periods make it more responsive to recent activity, while longer periods provide more stable reference ranges. The signals are designed for use in the Visual Scripts editor (scanners, alerts, strategies) and won't appear as labels on your chart.

Start 5 Day Trial

Test drive for 5 days (free trial)
Then just $1.49/month for 3 months (25% off)
After that, just $1.99/month

Terms and Conditions

THE INFORMATION PROVIDED THROUGH ANY CONTENT (“CONTENT”) PUBLISHED ON OR PROVIDED THROUGH THE MARKETPLACE (“MARKETPLACE”) SUPPORTED BY TRENDSPIDER LLC (“TRENDSPIDER”) IS PROVIDED "AS IS" AND "AS AVAILABLE" BY THIRD PARTIES AND NOT BY TRENDSPIDER OR ANY OF ITS AFFILIATES. TRENDSPIDER DOES NOT WARRANT THE ACCURACY, COMPLETENESS OR TIMELINESS OF ANY MARKET INFORMATION, FEATURES, TOOLS OR OTHER ITEMS (“INFORMATION”) MADE AVAILABLE THROUGH ANY CONTENT. TRENDSPIDER EXPRESSLY DISCLAIMS ALL WARRANTIES, EITHER EXPRESS OR IMPLIED, PERTAINING TO THE MARKETPLACE, THE CONTENT OR ANY INFORMATION MADE AVAILABLE THROUGH ANY CONTENT, INCLUDING, WITHOUT LIMITIATION, IMPLIED WARRANTIES OF MERCHANTABILITY, ACCURACY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. TRENDSPIDER EXPRESSLY DISCLAIMS ALL LIABILITY FOR ERRORS OR OMISSIONS IN, OR THE MISUSE OR MISINTERPRETATION OF, ANY INFORMATION MADE AVAILABLE THROUGH ANY CONTENT.

YOU ASSUME THE ENTIRE RISK AS TO THE USE OF ANY INFORMATION MADE AVAILABLE THROUGH ANY CONTENT. UNDER NO CIRCUMSTANCES WILL TRENDSPIDER OR ITS AFFILIATES, AGENTS, OR EMPLOYEES BE LIABLE FOR ANY DAMAGES OF ANY KIND THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, ANY CONTENT, OR ANY RELAINCE ON ANY INFORMATION MADE AVAILABLE THROUGH ANY CONTENT, EVEN IF ANY SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

The Content is for informational, educational and entertainment purposes only. Although Content may make available Information relating to investment approaches and opportunities to buy or sell securities, you should not construe any Information made available through any Content as legal, tax, investment, financial or other advice. Nothing contained in any Content constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. Investing involves risk and you alone assume the sole responsibility of evaluating the merits and risks associated with the use of any Information made available through any Content before making any decisions. You agree not to hold TrendSpider or its affiliates, agents or employees liable for any possible claim for damages arising from any decision you make based on Information made available through any Content.

Some free Content may require a separate subscription to paid Content in order to fully function. TrendSpider makes no representation or warranty as to the level of functionality of any Content offered on the Marketplace and hereby expressly disclaims any such warranty.

Unless otherwise indicated in the Marketplace, TrendSpider is not responsible for billing or user entitlement matters. Any issues pertaining these matters should be directed to the publisher of the Content.

Cancel Accept and continue

Disclaimer

Report This Indicator

General Idea

How the Volume Bar Range Works

Breakout and Breakdown Signals

Usage Notes

Traders also viewed