VSA text indicator download for MetaTrader 4 | Forex indicator download - MT4/MT5 resources

The VSA Text Indicator is one of the technical analysis tools in the MetaTrader 4 platform, based on the Volume Spread Analysis (VSA) methodology.

This indicator analyzes price action and volume to determine if smart money is present. It also displays text signals highlighting key market entry and exit areas directly on the chart.

VSA text indicator table

The general specifications of VSA Text indicator are as shown in the following table:

Indicator Overview

The Volume Spread Analysis text indicator detects and displays key signals such as insufficient supply/demand or buy/sell pressure stop text annotations directly on the chart. Each signal corresponds to a specific condition in the market:

• Upthrust : Indicates a failed attempt to push the price up
• No Demand Bar : A candle with low volume and a closing price in the middle or lower range
• Stopping Volume : A sudden surge in trading volume during a downtrend
• Reverse Upthrust : The opposite of the upward push pattern
• No Supply Bar : A candle with low volume and a closing price in the middle or higher price range
• Effort to Move Up : Price rises, volume is strong
• Effort to Move Down : Selling pressure is heavy and prices fall

Uptrend Conditions

In the 30-minute chart of the NASDAQ 100 index , following a downtrend, rising volume and rising prices indicate buyers' efforts to reverse the trend.

A strong bullish candle and the occurrence of an uptrend signal confirm the strength of demand and suggest the start of an uptrend .

downtrend conditions

The price chart below shows the EUR/GBP currency pair on a 30-minute timeframe . In a downtrend, falling prices and increasing volume reflect strong selling pressure .

If this occurs after a bullish correction, the continuation of the downtrend is confirmed .

VSA text indicator settings

Set the panel to VSA Text Indicator as shown below:

• Spread Period : The number of candles used to analyze the spread range
• Volume Period : The number of candles used to analyze trading volume
• Text Color : The text color displayed on the chart
• Size of Font : The font size of the text label
• Prev Candle : Reference candle position

Conclusion

The VSA Text Indicator , by analyzing volume, candle spreads and price action simultaneously, displays patterns such as No Demand , Upthrust , Effort to Move Up , and other VSA-based price and volume patterns directly on the chart as text alerts .

Parameters like "Spread Period" and "Volume Period" allow traders to customize the indicator's sensitivity to changes in trading volume, adapting it to various trading strategies .