The town council has been looking at site where the signs could slow drivers down and has already put up some signs.
Now councillors are being recommended to install signs on Whittington Road, on Middleton Road near Holy Trinity School and on Cabin Lanes and Harlech Road at the approaches to The Meadows School.
They could be put up using streetlamps for the installation.
Corrie Davies, projects officer for Oswestry Town Council said: "There are potentially many places to locate the VAS but the proposal is aimed at providing a solution to address areas of concern and is based on discussion and site visits with Shropshire Council Highways and Street Lighting.
"Details shared from Highways to date include traffic volumes which indicate higher than average speed limits. We are liaising closely with West Mercia police on further identified data on given sites. In the last year there
were three incidents noted on Cabin Lane and two on Middleton Road."
"The school has expressed concern about safety in Cabin lane via parent groups.
"In addition to the data gathering, information has been sought on the Community Speed Watch initiative. This could for example provide additional valuable data as evidence for a pedestrian crossing for Cabin Lane."
The total cost of installing four signs would be £14,653 with a suggestion that £13,000 of Community Infrastructure Levy Neighbourhood Funding is utilised, with an application made to the Police and Crime Commissioner at the start of the new bid year April 2023 for the remaining balance.