Veo Pro Vortex Elasticity Oscillator
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Dario Cadeddu
Quantitative Trading Systems Developer focused on risk management, market regime analysis and structured trading workflows for MetaTrader 5. - Versão: 1.0
VEO PRO – Vortex Elasticity Oscillator measures one thing well: how far price has stretched away from its adaptive equilibrium, and what the current impulse is doing about it.
All values are computed on closed bars. Nothing repaints.
What you see
- State histogram: NEUTRAL, CHARGE (energy building) or RELEASE (energy being released).
- Footer: state, bias, impulse phase and age, events, exhaustion and resumption, and the Chase Veto status.
- Stretch (S): distance from a Kalman-filtered equilibrium, measured in ATR units.
Chase Veto: the validated feature
On M15, forex and metals, VEO flags entries that chase a move already stretched by more than 1 ATR:
- "VETO: NO BUY" when price is stretched up;
- "VETO: NO SELL" when price is stretched down.
The veto was tested out of sample five times, on 30 instruments that were never used to build it. Entries taken against the veto performed worse than the same number of trades removed at random, on every one of the 11 cross pairs in the last test.
Honest limits:
- The veto is active only on M15 forex and metals. On equity indices the vetoed trades were profitable, so it is off there by default. On other timeframes it is not validated and always reads 0.
- It improves entry selection by a small amount. It does not turn a losing strategy into a winning one.
- Do not use it with breakout strategies: by design, breakouts enter stretched moves.
Impulse lifecycle (analytical)
Phase (new / active / extended / decay), age, peak energy, exhaustion and resumption events, and impulse integrity. These describe the impulse. They are not entry or reversal signals.
For EA developers
33 buffers, all on closed bars. Main ones: State (2), Intensity (3), Energy (4), Stretch (5), Bias (7), Confidence (8), Phase (14), Age (15), Exhaustion (28/29), VetoLong (31), VetoShort (32). A global-variable bridge is also published for companion tools.
Inputs
- Profile: FX M15 (default), FX H1 or Custom.
- Closed-bar mode.
- Chase Veto on/off and threshold (validated value: 1.0 ATR).
- Display options and alerts on state change.
Works with
VEO runs fully standalone. When QIF PRO is on the same chart, the footer also shows the QIF regime state. QRM PRO can read the Chase Veto and either warn you or reduce risk on chase entries.
