PipTick VSA MT4
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we have ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of their experience.
What Is VSA?
VSA (Volume Spread Analysis) is a form of technical analysis which attempts to look into price action in relation to volume. This is a proven method for analyzing financial markets. This approach works in all markets because the VSA evaluates imbalance between supply and demand that are constantly emerging.
More information can be found at this site: http://www.volumespreadanalysis.com/
Patterns
PipTick VSA shows 28 patterns divided into two groups - Signs of Weakness [SOW] and Signs of Strength [SOS].
- U - Upthrust [SOW]
- RU - Reverse Upthrust [SOS]
- PU - Pseudo Upthrust [SOW]
- PRU - Pseudo Reverse Upthrust [SOS]
- ND - No Demand [SOW]
- NS - No Supply [SOS]
- PBC - Potential Buying Climax [SOW]
- PSC - Potential Selling Climax [SOS]
- CAS - Climactic Action - Professional Selling [SOW]
- CAB - Climactic Action - Professional Buying [SOS]
- RS - Reverse Shake-Out [SOW]
- S - Shake-Out [SOS]
- 2RS - 2-Bars Reverse Shake-Out [SOW]
- 2S - 2-Bars Shake-Out [SOS]
- TR - Top Reversal [SOW]
- BR - Bottom Reversal [SOS]
- RER - Reversal After Effort to Rise [SOW]
- REF - Reversal After Effort to Fall [SOS]
- SVS - Stopping Volume - Professional Selling [SOW]
- SVB - Stopping Volume - Professional Buying [SOS]
- TD - Test of Demand [SOW]
- TS - Test of Supply [SOS]
- FPB - Falling Pressure - No Buyers [SOW]
- FPS - Falling Pressure - No Sellers [SOS]
- ERM - End of a Rising Market [SOW]
- EFM - End of a Falling Market [SOS]
- HS - Hidden Selling [SOW]
- HB - Hidden Buying [SOS]
Main Features
- The indicator shows 28 VSA patterns
- Really accurate signals
- Based on the original VSA
- Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1 and MN)
- Non-repainting
- Ready for backtesting
- Customizable parameters (Colors, Pattern Visibility, Text Size...)
- Very fast calculation
- Can be used for creating an EA (Expert Advisor)
- Available for MT4 and MT5
Input parameters
- MA_Period - Period of MA calculation
- ATR_Period - Period of ATR calculation
- Display_Legend - Allows to enable or disable displaying of legend
- Offset - Offset of VSA patterns labels
- Text_Size - Text size of the indicator labels
- Bars_Ago - Number of bars displayed by the indicator. In case Bars_Ago parameter is set to 0, all bars in chart will be displayed
- Show_U ... Show_HB - Allows to enable or disable displaying of the individual VSA pattern
- Color_Panel_Label - Color of panel label
- Color_Panel_Bar_Up - Color of bar if price goes up
- Color_Panel_Bar_Down - Color of bar if price goes down
- Color_Panel_Low - Color of low value
- Color_Panel_Average - Color of average value
- Color_Panel_High - Color of high value
- Color_Panel_Ultra_High - Color of ultra high value
- Color_U ... Color_HB - Color of the individual VSA pattern
Outputs parameters
- VSA - Number of VSA pattern according the legend
For more information, visit PipTick VSA product page.
Video
Panel color parameters added
Hard to test an indi like this. I don't think anyone would use it for a C1, but might use it for a c2 - consult it for confirmation. So backtesting it is tricky. But if I'm going to give an honest review, I have to backtest it. So for every arrow up (indicating strength) I checked if it hit the atr first or the 1.5xATR - my first TP and SL - the same levels I use to backtest any indi. I checked them for a year previous - daily candles on the 8 major currencies, but not on every pair. On USDCHF I got 52% WR. Not great. On AUDCAD, I got 56% WR. GBPJPY I got 50%, and on EURNZD, I got 59%. Not what you'd want in a C2. I wouldn't use that to confirm any trades. I'm docking a star for the fact that he's charging for this thing, and I'm docking another star for the fact that he asked me to pull down my review. I'd give this indi 2 stars on its own, so 2 - 2 is actually 0 but that's not an option so he ends up defaulting into 1 star. More than this deserves. Now he'll probably comment that I'm reviewing it wrong or whatever. I've spent more time on this stupid indi THAT I PAID FOR(!) than it deserves.
I had a review up that i took down after the backtesting. nothing like facts.
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Hello natedaag, thank you for your review. The list of patterns can be found in indicator's description. Have you found a time to check the indicator patters before you bought the indicator? The patterns rules are well known so it shouldn't be an issue. However if you have any suggestions for improvement of the indicator, we can considered the change request. In that case, I would suggest to formulate your formula mathematically correctly without using words "short and massive candle". Finally send your suggestion to comments section please, not the review.