Vbsm vloume based 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.

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.

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.
• The signal line is drawn on top of the cloud.
• The forming bar updates live on each tick; closed bars do not change.

Inputs

• Signal EMA length (default 25).
• Maximum number of bars to calculate (default 500). The calculation starts from the first bar in this window, so values depend on the window size.

Requirements

• MetaTrader 5, any symbol and 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.