```
# Volume Reversals Indicator
# Original SJ_VSA_Reversals (found in thinkScript Lounge)
# Arguments
def length = 36;
def displace = 0;
def volumeEMALength = 20;
def narrowSpreadFactor = 0.7;
def wideSpreadFactor = 1.5;
def aboveAvgVolfactor = 1.5;
def ultraHighVolfactor = 2;
def highCloseFactor = 0.70;
def lowCloseFactor = 0.25;
def GdojiFactor = 0.2; # C_RP
def WickFactor = 0.1; # C_RP
def shortTermLength = 5; #C_RP
def midTermLength = 15; #C_RP
def longTermLength = 40; #C_RP
input colorBars = {false, default true}; #C_RP
input trendText = {false, default true};
input volumeDefinitions = { false, default true };
input alerts = { default false, true };
# Calculations
rec spread = high - low;
def median = (high + low ) / 2;
rec avgVolume = compoundValue(volumeEMALength, ExpAverage(volume, volumeEMALength), Double.NaN);
# Calculate Volume moving average and it's standard deviation
rec sAvgVolume = compoundValue(volumeEMALength, Average(volume, volumeEMALength), Double.NaN);
def sAvgVolumeSTD = stdev(sAvgVolume, volumeEMALength);
# check if the vloume has been decreasing in the past two days.
def isTwoDaysLowVol = (volume < volume[1] && volume[0] < volume[2]);
# Calculate Range information
def avgSpread = WildersAverage(spread, volumeEMALength)[0];
rec isWideSpreadBar = (spread > (wideSpreadFactor * avgSpread));
rec isNarrowSpreadBar = (spread < (narrowSpreadFactor * avgSpread));
# Price information
rec isUpBar = close > close[1];
rec isDownBar = close < close[1];
# Check if the close is in the Highs/Lows/Middle of the bar.
# C_RP 20100809
# original code - def x1 = if (close == low) then avgSpread else (spread / (close - low));
def x1 = if (high==low) then 2.0 else if (close == low) then 2.65 else (spread / (close - low));
# C_RP try the line below with various divisors totalSum result in a minimum of 2.3 on a spread of 1 pip instead of using a fixed 2.3 as in the line above
# def x1 = if (high==low) then 2.0 else if (close == low) then (spread / 0.43 ) else (spread / (close - low));
def isUpCloseBar = (x1 < 2);
def isDownCloseBar = (x1 > 2);
def isMidCloseBar = (x1 < 2.2 && x1 > 1.8);
def isVeryHighCloseBar = (x1 < 1.35);
# C_RP 20100809 added isVeryLowCloseBar
def isVeryLowCloseBar = (x1 >= 2.65);
# Trend Definitions
rec fiveDaysSma = compoundValue(5, Average(close, 5)[0], Double.NaN);
def LongTermTrendSlope = LinearRegressionSlope(price = fiveDaysSma, length = longTermLength)[0]; # 40
def MiddleTermTrendSlope = LinearRegressionSlope(price = fiveDaysSma, length = midTermLength)[0]; # 15
def ShortTermTrendSlope = LinearRegressionSlope(price = fiveDaysSma, length = shortTermLength)[0]; # 5
# VSA Definitions
# upTHRUST - CRITERIA
# utbar
rec isUpThrustBar = isWideSpreadBar && isDownCloseBar && ShortTermTrendSlope > 0 && middleTermTrendSlope > 0; #C_RP added positive middleTermTrendSlope requirement to filter out upThrusts in trends that are only short term. Consider adding longTermTrendSlope requirement as well.
# utcond1
def upThrustConditionOne = (isUpThrustBar[1] && isDownBar);
# utcond2
def upThrustConditionTwo = (isUpThrustBar[1] && isDownBar[0] && volume > volume[1]);
# utcond3
def upThrustConditionThree = (isUpThrustBar[0] && volume > 2 * sAvgVolume[0]);
# scond1
rec isConfirmedUpThrustBar = (upThrustConditionOne OR upThrustConditionTwo OR upThrustConditionThree);
# scond
rec isNewConfirmedUpThrustBar = (isConfirmedUpThrustBar[0] && !isConfirmedUpThrustBar[1]);
# Two Period UpThrust Bar
rec isTwoPerUpT = isUpBar[1] && isWideSpreadBar[1] && isDownBar[0] && isDownCloseBar[0] && !isUpThrustBar[0] && (absValue(open[1] - close[0]) < (GdojiFactor * spread[1])) ;
# Three Period UpThrust Bar
rec isThreePerUpT = isUpBar[2] && isWideSpreadBar[2] && isDownBar[0] && isDownCloseBar[0] && !isUpThrustBar[0] && (absValue(open[2] - close[0]) < (GdojiFactor * spread[2])) ;
# GRAVESTONE DOJI - CRITERIA
# C_RP 20100816
# rec isGraveDojiBar = (spread > avgSpread) && (open == low) && (close == low); totally strict Gravestone Doji. Revised version below identifies a candle with above average spread, a real body smaller than 20% of the spread, and a lower wick less than 10% of the spread as a Gravestone Doji pictured as a white triangle above the candle.
rec isGraveDojiBar = (spread > avgSpread) && (absValue(open - close) < (GdojiFactor * spread)) && ((absValue(close - low) < (WickFactor * spread)) or (absValue(open - low) < (WickFactor * spread))); # less strict Gravestone Doji
# LIKELY REVERSAL - CRITERIA
# trbar
def reversalLikelyBar = (volume[1] > sAvgVolume[0] && isUpBar[1] && isWideSpreadBar[1] && isDownBar[0] && isDownCloseBar && isWideSpreadBar[0] && LongTermTrendSlope > 0 && high == Highest(high, 10)[0]);
# PSEUSO-upTHRUST - CRITERIA
# hutbar
rec isPseudoUpThrustBar = (isUpBar[1] && (volume[1] > aboveAvgVolfactor * sAvgVolume[0]) && isDownBar[0] && isDownCloseBar && !isWideSpreadBar[0] && !isUpThrustBar[0]);
# hutcond
def pseudoUpThrustConfirmation = (isPseudoUpThrustBar[1] && isDownBar[0] && isDownCloseBar && !isUpThrustBar[0]);
# FAILED-upTHRUST - CRITERIA
# C_RP Failed UpThrustConfirmation or pseudoUpThrustConfirmation occurs when the close of bar following such confirmation is not lower than the close of the confirmation bar
rec isFailedUpThrustConfirmation = (isNewConfirmedUpThrustBar[1] or pseudoUpThrustConfirmation[1]) && close[0] >= close[1];
# WEAKNESS BAR - CRITERIA
# tcbar
def weaknessBar = (isUpBar[1] && high[0] == Highest(high, 5)[0] && isDownBar[0] && (isDownCloseBar OR isMidCloseBar) && volume[0] > sAvgVolume[0] && !isWideSpreadBar[0] && !isPseudoUpThrustBar[0]);
# DOWNTREND STRENGTH (MARKET WEAKNESS) - CRITERIA
# stdn, stdn0, stdn1, stdn2
def strengthInDownTrend = (volume[0] > volume[1] && isDownBar[1] && isUpBar[0] && (isUpCloseBar OR isMidCloseBar) && ShortTermTrendSlope < 0 && MiddleTermTrendSlope < 0);
def strengthInDownTrend0 = (volume[0] > volume[1] && isDownBar[1] && isUpBar[0] && (isUpCloseBar OR isMidCloseBar) && ShortTermTrendSlope < 0 && MiddleTermTrendSlope < 0 && LongTermTrendSlope < 0);
def strengthInDownTrend1 = (volume[0] > (sAvgVolume[0] * aboveAvgVolfactor) && isDownBar[1] && isUpBar[0] && (isUpCloseBar OR isMidCloseBar) && ShortTermTrendSlope < 0 && MiddleTermTrendSlope < 0 && LongTermTrendSlope < 0);
def strengthInDownTrend2 = (volume[1] < sAvgVolume[0] && isUpBar[0] && isVeryHighCloseBar && volume[0] > sAvgVolume[0] && ShortTermTrendSlope < 0);
# CONFIRMATION DOWNTREND STRENGTH (MARKET WEAKNESS) - CRITERIA
rec bycond1 = (strengthInDownTrend OR strengthInDownTrend1);
# bycond
def isStrengthConfirmationBar = (isUpBar[0] && bycond1[1]);
# bycond2 C_RP UpClose on higher volume with all slopes down adds extra strength
def isStrengthConfirmationBar2 = (isUpBar[0] && isUpCloseBar[0] && volume[0] > volume[1] && longtermtrendslope < 0 && bycond1[1]);
# FAILED DOWNTREND STRENGTH (MARKET WEAKNESS) - CRITERIA
# Failed strength in downtrend signal force a follow-up bar that closes below mid-point of confirmaton bar C_RP
def isFailedStrengthSignal = (isStrengthConfirmationBar[1] or isStrengthConfirmationBar2[1] or strengthinDownTrend2[1])&& close[0] <= (close[1] - (spread[1]/2));
# STOPPING VOLUME AT BOTTOM (LIKELY REVERSAL) - CRITERIA
# stvol
def stopVolBar = low[0] == Lowest(low, 5)[0] && (isUpCloseBar OR isMidCloseBar) && volume[0] > aboveAvgVolfactor * sAvgVolume[0] && LongTermTrendSlope < 0;
# STOPPING VOLUME AT TOP (LIKELY REVERSAL) - CRITERIA
# C_RP stvol at highs - the opposite of stvol
def stopVolBarHighs = high[0] == Highest(high, 5)[0] && (isDownCloseBar OR isMidCloseBar) && volume[0] > aboveAvgVolfactor * sAvgVolume[0] && LongTermTrendSlope > 0;
# NO DEMAND - CRITERIA
# ndbar, nsbar
def noDemandBar = (isUpBar[0] && isNarrowSpreadBar[0] && isTwoDaysLowVol && isDownCloseBar);
# C_RP 20100809
# NO SUPPLY - CRITERIA
# def noSupplyBar = (isDownBar[0] && isNarrowSpreadBar[0] && isTwoDaysLowVol && isDownCloseBar);
def noSupplyBar = (isDownBar[0] && isNarrowSpreadBar[0] && isTwoDaysLowVol && isUpCloseBar);
# TEST FOR SUPPLY - CRITERIA
# lvtbar, lvtbar1, lvtbar2
rec supplyTestBar = (isTwoDaysLowVol && low[0] < low[1] && isUpCloseBar);
# TEST FOR SUPPLY IN AN UPTREND - CRITERIA
def supplyTestInUpTrendBar = (volume[0] < sAvgVolume[0] && Low[0] < Low[1] && isUpCloseBar && LongTermTrendSlope > 0 && MiddleTermTrendSlope > 0 && isWideSpreadBar[0]);
# SUCCESSFUL FIRST TEST FOR SUPPLY - CRITERIA
def successfulSupplyTestBar = (supplyTestBar[1] && isUpBar[0] && isUpCloseBar);
# SUCCESSFUL SECOND TEST FOR SUPPLY - CRITERIA
def successfulSupplyTestBar2 = (successfulsupplyTestBar[1] && isUpBar[0] && x1 <= 2 && volume[0] > volume[1]); # C_RP x1 finds Mid and UpCloseBars
# DISTRIBUTION - CRITERIA
# dbar
def distributionBar = (volume[0] > ultraHighVolfactor * sAvgVolume[0] && isDownCloseBar && isUpBar[0] && ShortTermTrendSlope > 0 && MiddleTermTrendSlope > 0 && !isConfirmedUpThrustBar[0] && !isUpThrustBar[0]);
# EFFORT TO MOVE UP - CRITERIA
# eftup, eftupfl, eftdn
def effortToMoveUpBar = (high[0] > high[1] && low[0] > low[1] && Close[0] > Close[1] && Close[0] >= ((high[0] - low[0]) * highCloseFactor + low[0]) && spread[0] > avgSpread && volume[0] > volume[1]);
# FAILED EFFORT TO MOVE UP - CRITERIA
def failedEffortUpMove = (effortToMoveUpBar[1] && (isUpThrustBar[0] OR upThrustConditionOne OR upThrustConditionTwo OR upThrustConditionThree));
# EFFORT TO DOWN - CRITERIA
def effortToMoveDownBar = ( ((high[0] < high[1]) OR (isWideSpreadBar && volume[0] > 1.5 * sAvgVolume[0])) && low[0] < low[1] && close[0] < close[1] && Close[0] <= ((high[0] - low[0]) * lowCloseFactor + low[0]) && spread[0] > avgSpread && volume[0] > volume[1]);
#C_RP old code - def effortToMoveDownBar = (high[0] < high[1] && low[0] < low[1] && close[0] < close[1] && Close[0] <= ((high[0] - low[0]) * lowCloseFactor + low[0]) && spread[0] > avgSpread && volume[0] > volume[1]);
# PLOT DEFINITIONS
def uSMA = Average(volume[-displace], length);
def dSMA = Average(-volume[-displace], length);
def ZeroLine = 0;
def Condition1 = shortTermTrendSlope > 0 and MiddleTermTrendSlope > 0 and longtermtrendslope > 0;
def Condition2 = shortTermTrendSlope > 0 and MiddleTermTrendSlope > 0 and longtermtrendslope < 0;
def Condition3 = shortTermTrendSlope > 0 and MiddleTermTrendSlope < 0 and longtermtrendslope < 0;
def Condition4 = shortTermTrendSlope < 0 and MiddleTermTrendSlope < 0 and longtermtrendslope < 0;
def Condition5 = shortTermTrendSlope < 0 and MiddleTermTrendSlope > 0 and longtermtrendslope > 0;
def Condition6 = shortTermTrendSlope < 0 and MiddleTermTrendSlope < 0 and longtermtrendslope > 0;
# Candle definitions
def SafeReversal = double.nan;
# plot null = double.nan;
# SELECTED REVERSAL CONDITIONS
# LIKELY REVERSAL AT THE TOP #1
# (Top - Red DownArrow)
def ConditionDown1 = if isNewConfirmedUpThrustBar && (upThrustConditionTwo or upThrustConditionThree) then (high + 4 * tickSize()) else Double.NAN;
# (Top - Red Triangle)
def ConditionDown2 = if isNewConfirmedUpThrustBar && upThrustConditionOne then (high + 2 * tickSize()) else Double.NAN;
# (Middle - Magenta Circle)
def ConditionDown3 = if effortToMoveDownBar && !(shortTermTrendSlope < 0 && MiddleTermTrendSlope < 0 && longTermTrendSlope < 0) then (median) else
Double.NAN;
# AddChartBubble(ConditionDown2, Volume, "Reversal Alert", Color.Red, Yes);
# LIKELY REVERSAL AT THE TOP #2
# (Top - Red Circle)
def ConditionDown4 = if reversalLikelyBar then (high + 6 * tickSize()) else Double.NAN;
# (Top - Yellow circle)
def ConditionDown5 = if stopVolBarHighs then (high + 7 * tickSize()) else Double.NAN;
#++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
#++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
#++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
# LIKELY REVERSAL AT THE BOTTOM #1
# (Bottom - Green Arrow Up) #1
def ConditionUp1 = if isStrengthConfirmationBar then (low - 4 * tickSize()) else Double.NAN;
# (Bottom - Green Arrow Up) #2
def ConditionUp2 = if isStrengthConfirmationBar2 then (low - 7 * tickSize()) else Double.NAN;
# (Middle - Green Circle)
def ConditionUp3 = if effortToMoveUpBar then (median) else Double.NAN;
# LIKELY REVERSAL AT THE BOTTOM #2
# (Bottom - Green Circle)
def ConditionUp4 = if stopVolBar then (low - 2 * tickSize()) else Double.NAN;
# (Bottom - Green Triangle)
def ConditionUp5 = if strengthInDownTrend2 then (low - 3 * tickSize()) else Double.NAN;
# Arrows below based on the following
#AddChartBubble(ConditionUp4 && ConditionUp5, Volume, concat("Buy @ $", Close), Color.Green, Yes);
#AddChartBubble(ConditionUp1 && ConditionUp2 && ConditionUp3, Volume, concat("Buy @ $", Close), Color.Green, Yes);
#AddChartBubble(ConditionDown1 && ConditionDown4 && ConditionDown5, Volume, concat("Sell @ $", Close), Color.Red, Yes);
#AddChartBubble(ConditionDown1 && ConditionDown2 && ConditionDown3, Volume, concat("Sell @ $", Close), Color.Red, Yes);
# buy and sell signals
def Buy45 = ConditionUp4 && ConditionUp5;
plot bullish45 = Buy45;
bullish45.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullish45.SetDefaultColor(Color.CYAN);
bullish45.SetLineWeight(3);
def Buy123 = ConditionUp1 && ConditionUp2 && ConditionUp3;
plot bullish123 = Buy123;
bullish123.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullish123.SetDefaultColor(Color.CYAN);
bullish123.SetLineWeight(3);
def Bearish145i = ConditionDown1 && ConditionDown4 && ConditionDown5;
plot bearish145 = Bearish145i;
bearish145.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearish145.SetDefaultColor(Color.CYAN);
bearish145.SetLineWeight(3);
def Bearish123i = ConditionDown1 && ConditionDown2 && ConditionDown3;
plot bearish123 = Bearish123i;
bearish123.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearish123.SetDefaultColor(Color.CYAN);
bearish123.SetLineWeight(3);
# Alerts
Alert(ConditionUp4 && ConditionUp5, concat("Buy @ $", Close), Alert.BAR, Sound.Bell);
Alert(ConditionUp1 && ConditionUp2 && ConditionUp3, concat("Buy @ $", Close), Alert.BAR, Sound.Bell);
Alert(ConditionDown1 && ConditionDown4 && ConditionDown5, concat("Sell @ $", Close), Alert.BAR, Sound.Chimes);
Alert(ConditionDown1 && ConditionDown2 && ConditionDown3, concat("Sell @ $", Close), Alert.BAR, Sound.Chimes);
AddChartBubble(bullish45, low, "Long", Color.GREEN, no);
AddChartBubble(bearish145, high, "Short", Color.RED, yes);
AddChartBubble(bullish123, low, "Long", Color.GREEN, no);
AddChartBubble(bearish123, high, "Short", Color.RED, yes);
```