VPS - Volume per Second — Transaction Speed Approximation

VPS — Volume-Per-Second (Transaction Speed Approximation)
(code from chatGPT)

This indicator measures the speed of trading activity by calculating volume per second (VPS) in real time. Instead of waiting for a bar to close, it samples how quickly volume accumulates during the current bar and converts it into a per-second rate.

What it does:

Displays instantaneous VPS (column plot) and a smoothed EMA (line).

Computes a rolling z-score of VPS to show how “fast” or “slow” current trading activity is compared to recent history.

Labels the chart in real time with “FAST,” “NORMAL,” or “SLOW” based on user-defined z-score thresholds.

Includes optional alerts when VPS spikes above or drops below your chosen thresholds.

Why it’s useful:

Spot sudden surges or drops in trading activity before the bar closes.

Detect aggressive buying/selling pressure or quiet zones in real time.

Use as a filter for entries, exits, or scalping strategies — e.g., trade only when VPS is FAST.

Important:

This is an approximation — TradingView does not expose individual transactions or true latency data.

Historical bars use average VPS for the entire bar; only real-time bars show tick-by-tick updates.

Works on any market where volume data is available.