Volume Price Analysis

Volume Price Analysis (VPA) is a term coined by Anna Coulling and described in her trading book “A Complete Guide to Volume Price Analysis”. It is similar in concept to Volume Spread Analysis (VSA) which is a term coined by Tom Williams of TradeGuider. Both VPA and VSA are based on the works of Richard Wyckoff, Charles Dow and Jesse Livermore, traders famous in the 1920s.

The idea behind VPA is to uncover supply and demand in any stock using volume in combination with price and spread (the difference between Open and Close).

Recommended reading:


The book explains in detail the concepts and ideas behind VPA and is recommended reading for anyone interested in the topic.





The EdgeRater VPA Signals Template

The EdgeRater VPA template can be run against any list of tickers and produces a report which shows the current VPA signal as well as the long, medium and immediate trends.


The EdgeRater VPA Report

The EdgeRater VPA Chart Overlay

There is a new chart indicator that can be found in the indicator library called VPA_Overlay. You can drag this overlay on top of the current price chart to see the VPA Signals.

The report is linked to the VPA chart so that you can see the current and historical signals superimposed on the price. The signals are indicated by various colored shapes that appear above, below and mid bar:


The VPA Symbols

Symbol Color and type Relative Bar Placement Meaning
Lime Circle Below No Supply. A sign of strength
White Circle Below Stopping Volume. Normally indicates end of bearishness is nearing
Aqua Triangle Up
Below High Volume Upbar following a low volume bar in a downtrend. Closing near the high. Indicates strength
Lime Triangle up
Below An Upbar closing near High. Confirms return of strength
Yellow triangle up
Below An Upbar closing near High after a test confirms strength
Lime Square
Below Test for supply. A sign of strength
Magenta square Below Low volume test for supply.
Yellow square
Below Reverse upthrust. Indicates strength.
Blue Circle
Above Wide range bar closing down on heavy volume after touching the high of the last 10 bars . Bearish. A rare signal
Blue Square
Above Psuedo upthrust. A sign of weakness
Blue Triangle Down
Above A downbar closing down after a pseudo upthrust confirms weakness
Lime Triangle Down
Above Wide range bar closing down on heavy volume after making new short term highs . Bearish. A rare signal
Yellow Triangle Down Above High volume downbar after an upmove on high volume indicates weakness
Red Triangle Down
Above An upthrust bar. A sign of weakness
DarkRed diamond
Above Potential buying climax
Magenta square
Above No demand. A sign of weakness
White Square
Above An Upthrust Bar after upmove. A Sure sign of weakness
Red Circle
Mid Transfer of ownership
Turquoise Circle
Mid Effort to rise. Bullish sign
Yellow Circle
Mid Effort to fall. Bearish sign