Wyckoff Volume Spread Analysis

Wyckoff Volume Spread Analysis, invented by Richard D. Wyckoff is one of the most important concepts of technical analysis. This indicator focuses on identifying the Sign of Strength (SOS) and the Sign of Weakness (SOW) for you and plot that on the Chart. This indicator also studies "The Next Bar" to confirm/refute SOS/SOW.The SOS/SOW points are identified with triangles on the chart, and on the next bar, a rectangle is plotted with Gold (to confirm) or Silver (to refute) the previous SOS/SOW. The signals identified are Sign of Strength (SOS)1-DT (Down Thrust)2-SC (Selling Climax)3-E<R (Effort Less than Result)4-E>R (Effort More than Result)5-NS (No Supply Bar)6-PDT (Pseudo Down Thrust)7-PIDT (Pseudo Inverse Down Thrust)8-IDT (Inverse Down Thrust)9-FESC (Failed Effort Selling Climax)Sign of Weakness (SOW)1-UT (Up Thrust)2-BC (Buying Climax)3-E<R (Effort Less than Result)4-E>R (Effort More than Result)5-ND (No Demand)6-PUT (Pseudo Up Thrust)7-PIUT (Pseudo Inverse Up Thrust)8