Street Fighter V implements the new Variable System, or V-System, which offers a number of new mechanics for each character.
The trailer for the system details three mechanics built around the new V-Gauge: V-Skill, V-Trigger and V-Reversal. This meter mainly builds as you take damage.
V-Skills are unique skills per character that can be accessed at any time. They don’t use any of the V-Gauge and have different uses per character.
V-Trigger can only be used once the V-Gauge is full. It unlocks a character’s full potential, but unlike the Ultra system of Street Fighter IV, it will be up to you to make the most of this.
Finally, V-Reversals use up one stock of V-Gauge, but allow players to counter while blocking. This should give players a bit of breathing room when faced with a barrage of attacks.
There is also the EX Gauge, which is built up by dealing damage to your opponent. This lets players unleash powered up versions of their special attacks, culminating in a devastating Critical Art.
You can see these mechanics in action in the newly released trailer for Street Fighter V.