Volume Spread Analysis (VSA) is a specialized trading methodology that examines the relationship between , price spread (the range from high to low), and the closing price . Its core objective is to identify the activities of institutional "Smart Money"—large banks and hedge funds—to align retail trades with their market intentions. Core Concepts of VSA
: Price movements are driven by imbalances. When demand exceeds supply, prices rise; when supply dominates, prices fall. vsa trading strategy pdf