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VSA by the master the market e-book indicator
It is the VSA, "Volume Spread Analysis" of Tom Williams . It shows the arrow sign as a signal.
To trade VSA, you need to compair the signal to the market background.
Do not trade the signal alone.
VSA_MTM.mq4 11.25 kb, 31 downloads since 2014-10-08
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What is VSA_MTM EA?
https://mt4talk.com/viewtopic.php?pid=1737#p1737
VSA_MTM is an indicator based on the Volume Spread Analysis (VSA) theory, designed to assist traders in identifying potential buying and selling opportunities in the forex market.
The indicator analyzes the spread of price movements. It pays attention to whether the spread is narrow or within a certain range, which can indicate specific market conditions.
VSA_MTM checks how the closing price relates to the spread. It categorizes closing prices as mid, up, or down based on their percentage in relation to the spread.
Volume Assessment: Volume is a crucial factor. The indicator considers both high and low volumes, along with standard deviation, to gauge market participation and sentiment.
Combining these factors, the indicator generates signals when it identifies conditions that align with potential market opportunities. These signals may indicate the absence of selling pressure, climax events, successful tests, bullish or bearish signals, and more.
Let's break down the adjustable parameters of the VSA_MTM Indicator:
vollbf: This parameter allows you to adjust the volume factor, making the indicator more or less sensitive to changes in trading volume. Higher values increase sensitivity.
spdlbf: Similar to the volume factor, the spread factor can be adjusted. Higher values make the indicator more responsive to changes in the spread.
lookbackbars: Set the lookback period, determining how far back the indicator analyzes historical data.
Mode: The Mode parameter lets you choose between two modes:
Mode 1: Follows the VSA theory closely for more conservative trading.
Mode 2: Utilizes standard deviation for a slightly different approach to analysis.
The effectiveness of the VSA_MTM Indicator depends on your trading style and preferences:
Mode 1 (VSA Theory): This mode closely aligns with the VSA theory and is suitable for traders who prefer a systematic and traditional approach to trading.
Mode 2 (Standard Deviation): Mode 2 employs standard deviation in its analysis, potentially offering different insights. Traders who enjoy experimenting and exploring variations of the VSA strategy may find this mode appealing.
The indicator is typically effective with major currency pairs like EUR/USD.
The optimal time frame for this indicator is 1 Hour (H1), but you can experiment with other time frames based on your trading goals and risk tolerance.
In summary, the VSA_MTM Indicator can cater to both conservative and experimental traders. It provides signals based on volume, spread, and price action to help you make informed trading decisions. To use these signals for actual trading, you would need to manually place trades in your trading platform based on the signals provided by the indicator.
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