MSM Vbsm Volume Buy Sell Momentum

MSM VBSM is a volume-based momentum indicator for MetaTrader 5. It is an MQL5 implementation of the Volume Buy Sell Momentum concept and is shown in a separate window below the chart.

It does not open trades and does not give buy or sell orders. It shows whether price changes are happening on rising or falling volume, on the chart timeframe or on a higher timeframe.

Concept credit: the Volume Buy Sell Momentum idea was published on TradingView by Siyeon. This is an independent MQL5 implementation.

How it works

• For every bar, the indicator measures the percentage price change from the previous close.
• The change is added to one of two running totals, depending on whether tick volume rose or fell compared with the previous bar.
• The sum of both totals forms the main VBSM line.
• An exponential moving average of the VBSM line is drawn as the signal line.

Higher timeframe (MTF)

• Choose a higher timeframe in the inputs, for example H1 on an M5 chart. The VBSM of that timeframe is shown as steps on the current chart.
• The current higher-timeframe bar updates until it closes. With the closed-bars-only option the indicator shows only finished higher-timeframe bars, so nothing changes after it is drawn.

Display

• A filled cloud between the VBSM line and the signal line: blue when VBSM is above the signal line, red when it is below.
• An amber signal line is drawn on top of the cloud. Colors can be changed in the Colors tab.
• The calculation starts from a fixed point, so closed bars keep their values. Only the forming bar updates on each tick.

Cross arrows on the main chart

• Optional arrows on the price chart mark where the VBSM line crosses the signal line: an up arrow under the bar when it crosses above, a down arrow over the bar when it crosses below.
• Arrows are drawn only on closed bars (in higher timeframe mode, on closed higher-timeframe bars), so they do not appear and disappear.
• You can attach the indicator twice, for example the current timeframe and H1. Each copy keeps its own arrows, and higher-timeframe arrows have a thicker shape.
• The arrows only mark crosses. They are not trade signals, and your own analysis decides every trade.

Inputs

• Timeframe: current chart or a higher timeframe.
• Signal EMA length (default 25).
• Bars to calculate on the chosen timeframe (default 500).
• Closed bars only for the higher timeframe (default off).
• Cross arrows on the main chart: on/off, colors and size.

Requirements

• MetaTrader 5, any symbol and time-based timeframe that provides tick volume.
• No DLL and no internet connection needed.

Risk warning

Trading on margin involves a high risk of loss. This indicator shows past price and volume behaviour and does not predict the future. It cannot guarantee profit. Please test on a demo account first.