Vulture

This indicator ("vulture") is the volume of a candle divided by the spread.

When higher than 2 standard deviations, it suggests demand aggressively opposing supply and vice versa.

When lower than 2 standard deviations, it suggests demand hardly being opposed by supply or vice versa.

E.g., if the vulture is very high and volume is also very high, this indicates high institutional activity (who is usually right) against the herd (who is usually wrong). If the vulture is very low and volume is very high, this suggests a mark up or mark down. If vulture is very high and volume is very low, whilst prices are climbing up to a resistance area, the low volume climb is less likely an ease of movement, and more likely to be a significant "no demand" candle, and so prices are likely on the verge of a reversal back to the downside.