Major Sign of Strength (SoS) - Downthrust Bar supported by momentum & in the direction of trend (Green Star Under the candle)
Any candle highlighted with a Green star is a solid breakout candle where price action indicates that participants wants the price to move up. This is normally a wide range bar with ultra high closing near the upper part of the candle. Also the trend and momentum favours the breakout which is identified using MA & to support the case.
Major Sign of Weakness (SoW) - Upthrust Bar supported by momentum & in the direction of trend (Red Star Under the candle)
Any candle highlighted with a Red star is a solid breakdown candle where price action indicates that participants wants the price to move down. This is normally a wide range bar with ultra high closing near the lower part of the candle. Also the trend and momentum favours the breakout which is identified using MA & to support the case.
Normally prefer trading the scrip in the direction of breakout or breakdown after noticing a starcandle. Apart from that there are some important VSA signals for which quick cheet sheet is given below.
Sign of Strength (SoS) - Green Star/Circle/Square
Sign of Weakness (SoW) - Red Star/Circle/Square
Circle represents - Stopping ( SV ) if green, Supply Overcomes Demand (SoD) if red.
Square represents a TrendReversal ( TR ), if green , if red
Apart from that you can view the volumes either in the form of oscillator which is calculated basis the standard deviation or normal volumes. Deep Green/Green bars represent high green candle. Deep Red/Red candle represents high sell candle. Pink and blue candles are those where action is low or negligible to take any trade basis that. Prefer using the indicator with default settings.
Price action is least lagging indicator as compared to other indicators. And as usual no indicator has 100% success rate. So I urge all users not to consider this as a holy grail. This indicator need to be used along with the VSA signal indicator (which can be plotted on the chart) and indicator which is provided as full VSA trading setup for swing trades. The overall usage will be provided through a demo to the subscribing users. In order to gain access to this indicator you may contact me using the below signature.
1) Color change basis volatility shift and VSA breakouts. Now background color remains green after a VSA Breakout till next Breakdown and vice versa.
2) Added alerts for "VSA BreakOut" and "VSA Breakdown"
3) At times the VSA highlighting symbols were not visible. Did fix so that it remains visible all times when oscillator mode is active.
1) Added Turnover information for current timeframe candle and higher timeframe candle. D=Daily W=Weekly
2) Added volume for current candle and higher timeframe candle.
3) Just move mouse over the label to see the tool tip on shortcuts.
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