VSA Text Indicator for MetaTrader 5 Download - [TradingFinder]

The VSA Text Indicator on the MetaTrader 5 platform is a tool based on the "Volume Spread Analysis" method, used for simultaneous analysis of trading volume and candlestick behavior.

This tool was developed to detect smart money Style. By providing accurate text-based signals on the chart, it enables the identification of key market entry and exit points.

VSA Text Indicator Table

The features of the VSA Text Indicator are displayed in the table below:

Overview of the Indicator

The Volume Spread Analysis Text Indicator analyzes price behavior alongside trading volume to precisely detect supply and demand pressure conditions. It displays this as text signals on the chart.

Each signal indicates a specific market condition:

• Upthrust: Failed attempt to break resistance
• No Demand Bar: Weak demand with low volume
• Stopping Volume: Downtrend halting with increased volume
• Reverse Upthrust: Support reaction with buying pressure
• No Supply Bar: Lack of supply at market bottom
• Effort to Move Up: Upward move with significant volume
• Effort to Move Down: Downward move with heavy selling pressure

Uptrend Conditions

The image below shows the 4-hour chart of the GBP/CHF currency pair. At the end of a downtrend, an increase in volume alongside price growth and the "Effort to Move Up" signal indicates buyer pressure and a trend reversal.

Downtrend Conditions

The 4-hour chart of the cryptocurrency Zcash (ZEC/USD) shows a downtrend. In this scenario, the "Effort to Move Down" signal, a price drop, and increased trading volume indicate selling pressure and a sell trade opportunity.

VSA Text Indicator Settings

The image below displays the configurable settings panel of the VSA Text Indicator:

• Spread Period: Period for evaluating candle spread
• Volume Period: Period in assessing trading volume
• Text Color: Text color
• Size Of Font: Font size
• Prev Candle: Reference candle position

Conclusion

The VSA Text Indicator is designed based on volume-price analysis in technical analysis.

By simultaneously reviewing volume and price closing positions, it displays signals like Upthrust, No Demand, and Effort to Move Up directly on the chart in text format.