A universal indicator showing a trend reversal on all assets
The best option for opening a transaction is to enter the market immediately, the field of the trend reversal , this moment can be determined by installing a reversal indicator on the schedule.
But what to do if you want to trade at once with several exchange assets and it is advisable to control the situations not only for several assets, but also on several timeframes.
For these purposes, a universal indicator of the trend turning, which can display the signals for a turning cut into 20 various assets, is suitable.
The tool works great on - currencies, cryptocurrencies, promotions, gold and other assets. If desired, simultaneous control of six timeframes is available.
Indicator showing the VSA Screener trend
After you downloaded the VSA Screener script and copied it into the MQL5 \ Experts \ Market folder to your Metatrader 5 it remains only to go to the settings:
If we talk about the settings of this trend turning indicator, there are several of them:
- The choice of assets - can be entered in manually selected assets or indicate the first asset from the market review, then the rest of the assets will be displayed half a floor as in the market review.
- The number of characters - how many symbols should be displayed and information.
- Type of volume - teak or real. Only teaks worked for me.
- The number of bars in the indicator window.
- The choice of timeframes on which the probability of a turn will control.
- Types of paternal for display.
VSA Screener is based on the Volume Spread Analysis (VSA) system that analyzes the essence of price movement (volumes and price movement), warning of possible spreads.
How VSA works (briefly)
- Bar (CandleStick or BAR) + volume: Analyzes the width of the price bar, the closure position and the corresponding volume.
- Signals about the imbalance of demand and sentences:
- High volume + narrow range → a sign of the hidden activity of large participants.
- Low volume + wide range → a signal of a weak interest in movement.
- Accumulation and Distribution: VSA is trying to determine the phases when large players “fill the portfolio” with an asset or “discard” (distribution).
- Entrance points: The trader is looking for a “test” bar or “closing the weakness” (No Supply / No Demand) to join the movement on the Smart Mani side.
After you add a turning indicator to the graph, the schedule will be painted, but an informer window will appear on it:
The tool is a dynamic table displaying all key information to select the symbol to detailed analysis:
The presence of a VSA pattern (OV) indicating the number of the bar (countdown from the end, the current bar is zero)
Abbreviated display the name of the pattern
Green or red color displays the strength and weakness of the pattern, respectively
When a mouse indicator is instructed to a specific indication cell, a pop -up hint will appear indicating the last few patterns within the selected depth (20 of the last default bars), as well as the time of their appearance.
The color of the text in the indication displays the presence of one (white text) or several patterns at the selected depth of history. Yellow if the patterns are multidirectional, blue - if in one direction, which significantly increases the likelihood of working out the signal.
Such a configuration allows you to determine the most promising symbols for trade at first glance.
Available patterns and their abbreviated display:
Trend weakness signals (warn about the end of the rising trend and/or the beginning of the descending)
- Weakness a (w_a)
- Weakness b (w_b)
- No demand (n_d)
- Up Thrust (U_T)
- Pseudo_up thrust (p_u)
- Stop Volume Weak (S_W)
Signals of a strong trend (warn about the end of the descending trend and/or the beginning of the rising)
- Strength_a (s_a)
- Strength b (s_b)
- No SUPPLY (N_S)
- Spring (s)
- Pseudo Spring (p_s)
- Stop Volume Strong (S_S)
VSA Screener is quite a working tool, thanks to which you can easily determine an asset with a high probability of turning.