VSA Signals v1 EA
Logic:
- Volume Spread Analysis (VSA) Signals:
- The EA is designed to detect signals of market strength and weakness using Volume Spread Analysis (VSA). It identifies various patterns and bar characteristics to determine potential market turning points or continuations.
- Signals such as “Upthrust,” “No Demand,” “Stopping Volume,” and “Shakeout” are examples of how the EA determines market sentiment based on the volume and spread of bars.
- Session-Based Analysis:
- The EA includes the ability to analyze market sessions (Asian, European, and New York sessions) and adjust its behavior accordingly.
- This allows it to adapt its signal detection based on different market conditions and volumes typical of these sessions.
- Dynamic Signal Display:
- The EA visually displays the signals on the chart, marking strength signals in blue and weakness signals in red. Incorrect signals based on the wrong background conditions are displayed in gray.
- The signals are determined based on various VSA principles such as “Effort to Rise,” “Buying Climax,” “No Supply,” and more.
- Background and Meter:
- The EA uses a background meter that tracks the general market strength or weakness over time. This background influences how signals are displayed, giving context to whether the market is generally strong or weak.
