Forex VSAs Volume Channel MT4 Indicator:
About the Forex VSAs Volume Channel MT4 Indicator
The indicator is calculated using a complex author’s algorithm. It is based on the trend for overbought and oversold volume zones. This allows you to detect divergence of volumes, to identify the so-called squat bars. It also defines market entry levels and goals. The middle line of the channel is the expected pullback level.
RPeriod is the period of the indicator calculation
Indicator_Level – level of overbought oversold zones
Draw Fibo Levels-display target levels
Fibo Level Color – color of target levels
Arrow Price Color – label color for the channel width and distance to the borders
CountBars – number of calculated bars
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)