Vetex FX VTL Indicators & Scripts

edakad

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SM ADX - VertexFX Indicator

SM ADX indicator uses T3 adaptive smoothing in ADX calculations. This makes the Average Directional Index, ADX, more responsive to price. The SM ADX indicator consist the Average Directional Index (ADX), Minus Directional Index (-DI) and Plus Directional Index (+DI). These represent a group of directional movement indicators that form a trading system. ADX (light green line) measures trend strength without regard to trend direction. The other two indicators, +DI (yellow green line) and -DI (wheat color line) complement the ADX by defining trend direction. Used together, chartists can determine both the direction and strength of the trend.
In general, the bulls have the edge when +DI is greater than - DI, while the bears have the edge when - DI is greater. Crosses of these directional indicators can be combined with ADX for a complete trading system. SM ADX reading above 10 is considered as a strong trend. When plus DI cross above minus DI and ADX is above 10, buy position can be opened. For a sell signal, minus DI rise above plus DI and ADX is above 10. The SM ADX indicator eliminates many whip saw trades triggered by the normal ADX indicator.
The indicator parameters are ADX period, t3 smoothing period and smoothing factor. Parameter values are changed in the VTL editor. They are properly commented for ease of use.
 

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edakad

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109 0
SDL MAM - VertexFX Indicator

SDL MAM is a trend detection indicator. It uses the close open relationship of each bar over a period of 20 bars and the deviations from a moving average to estimate the trend direction. SDL MAM plots the indicator line in a new pane. Green indicator line implies uptrend and red indicator line implies down trend. The SDL MAM indicator is responsive to short term price changes; thus it can produce whip saw trades. It is better used with other indicators for confirmation.
The indicator can be used to generate buy sell signals. Indicator line turning green is a Buy opportunity as down trend is reversing upward. Indicator line turning red is a Sell signal. This approach will produce many choppy trades. It can be combined with other indicators to avoid whip saws. Another approach is to Buy when the indicator line cross above zero line and Sell when indicator line cross below zero.
The parameters of the SDL MAM indicator are period – indicator calculation period, moving average method – MA type like EMA, SMA etc., and price field to use in indicator calculation. Parameters are changed in the VTL editor.
 

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edakad

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109 0
Psychological Indicator - VertexFX

Psychological Indicator is a client side VTL indicator. It is based on the relations ship between closing price of each bar within the indicator calculation period. It calculates the percentage of bars that close above previous candle close within the indicator calculation period. This is then plotted as an oscillator in the indicator pane. Psychological indicator works like other oscillators. Rising indicator line indicates up trend and falling indicator line implies down trend. Indicator values above 70 can be considered overbought and values below 30 can be taken as oversold. When the indicator remains in the higher extreme levels, it means the market is trending upward with strength. However, a strong uptrend usually leads to overbought market conditions and consolidation or trend reversal is imminent. Opposite situation happens in strong down trends. Thus the indicator can warn about short term price extremes.
Psychological indicator can be used to generate trading signals. One method is to use it to generate counter trend trades. When the indicator reaches upper extreme levels, sell position can be opened. Trade can be initiated when price reversal is confirmed by candle patterns, with the psychological indicator showing overbought market conditions. Buy positions can be opened when the indicator reaches oversold levels and upward reversal candle appears.
The indicator calculation period can be customized with the parameter period. To change parameter value, open the script in VTL editor, parameters are located at the top of the script file. Change the parameter value, save and compile and apply to chart again for the new settings to take effect.
 

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edakad

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GMMA Short - VertexFX Indicator

Guppy Multiple Moving Average – Short (GMMA Short) is Client Side VTL Indicator. It is a set of five shot term exponential moving averages of period 3, 7, 10, 12 and 15. GMMA Short is used to identify and trade the short term trend. Single moving average and price cross over strategies are associated with many choppy trades. GMMA short with five short term moving averages is able to eliminate such choppy cross over. When all the moving averages are moving upward, a short term uptrend is in place and in a down trend, all the six moving averages move downward. In trading ranges, the averages are placed close together, when the trend is strong, they depart from each other and slope in the direction of the trend. See the image attached.
Buy position can be opened when the moving averages turn upward and diverge from each other. Sell position is opened when the GMMA short turns downward and diverge from each other. This is a short term trading strategy. After opening a position, if the moving averages converge together, short term trend is losing momentum and positions can be closed.
The zone formed by the GMMA act as short term support or resistance. This can be used to open pull back trades. When price comes back to the support zone formed by GMMA and again break above the support zone, Buy can be initiated. For a pullback Sell, price must test the resistance zone formed by the GMMA and again break below it. GMMA short is useful to short term trend following.
 

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omsaitech5555

Junior member
31 1
LossLessMA Expert Adviser for VertexFX Trading Platform

Hello We have converted a MT4 Expert LossLessMA for VertexFX termnal its aviliable for free now for all vertexFX terminal users

The Loss Less M A Expert Advisor is a simple yet powerful Vertex F X client-side script that trades market trends based on two moving averages.

It uses a Fast (simple) Moving Average and a Slow (simple) Moving Average to determine the market trends.

When the Fast Moving Average crosses above the Slow Moving Average, it is considered a BULLISH or (BUY) signal, whereas when the Fast Moving Average crosses below the Slow Moving Average it is considered a BEARISH or (SELL) signal.

When the Fast Moving Average crosses above the Slow Moving Average, a BUY or (LONG) trade is opened at market, if the number of already opened trades is below MAX_DEALS. On the contrary, if the Fast Moving Average crosses below the Slow Moving Average, a SELL or (SHORT) trade is opened at market, if the number of already opened trades is below MAX_DEALS.

If the Fast Moving Average is below the Slow Moving Average, then the stop-loss of all open LONG or (BUY) trades is moved to entry price plus spread. On the contrary if the Fast Moving Average is above the Slow Moving Average, then the stop-loss of all open SHORT or (SELL) trades is moved to entry price minus spread.
 

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edakad

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109 0
Pinbar Detector Pro

Pinbar Detector is a client side VTL indicator to detect Pinbars and marks them by placing up arrow below bullish Pinbar and down arrow above bearish Pinbar. The Pinbar formation is a price action reversal pattern that shows that a certain level or price point in the market was rejected. The Pinbar is a bar with a long upper or lower “tail” and a much smaller “body”. The image below shows the Pinbar anatomy for Bullish and Bearish Pinbars.

Pinbars can be traded with different entry methods. Wait for the Pinbar to complete. Open trade at the start of next bar with a market order. Another method is opening trade on a 50% retrace of the PinBar. In this method, trader waits for the price to retrace to the midpoint of the entire Pinbar’s range. More conservative approach is to place a stoploss buy order above the high of the Bullish Pinbar and stoploss sell order below the low the Bearish Pinbar.
Traders can use their discretion in opening trades with the Pinbar. One of the best methods is to trade Pinbars formed in the direction of trend. This can be considered as trend continuation trades. Reversal trades can be opened when the Pinbar is formed at important resistance or support levels. See the chart attached. Placing the stoploss for the trade at the opposite end of the pin bar is good. Pinbars work best when they are formed at important support or resistance levels.

 

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edakad

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109 0
Inside Bars

Inside Bar is a Client Side VTL indicator to identify Inside Bars in chart and marks the them on chart by a down arrow above the Inside Bar and an up arrow below the Inside Bar. The inside bar is a two candle price action setup. The Inside Bar is defined as a candle whose high is less than the high of prior bar and low is greater than the prior bar. It is a bar that is completely contained within the range of the preceding bar, also known as the “mother bar”. An inside bar formed on a Daily chart will sometimes look like a triangle pattern on lower timeframes such as one-hour chart. An inside bar indicates a time of indecision or consolidation. Inside bars typically occur as a market consolidates after making a large directional move, they can also occur at turning points in a market and at key decision points like major support/resistance levels. Thus inside bars represent breakout trading opportunities. Traders usually open trades on the breakout of the mother bar. Another method is to open trades on breakout of the inside bar itself.
There are basically two ways to trade an inside bar setup: As a continuation signal or as a reversal signal. The image illustrates these setups. When an inside bar is formed in an uptrend, it is a temporary pause of the uptrend. So upward breakout of the mother bar is likely to present a good trading opportunity. In a down trend, downward breakout of the mother bar presents a good sell opportunity. At key support/Resistance levels, the Inside Bar setup will act as a trend reversal setup. Traders should use discretion in picking inside bars for trading. Inside bars formed inside a trading range is not good for breakout trades as the consolidation will continue till price break out from the trading range.

 

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edakad

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109 0
Outside Bar - VertexFX

Outside Bar is a Client Side VTL Indicator to mark outside bars on chart. The indicator plots two arrows above and below the outside bar. Outside bar is bar that has a higher high and lower low than the preceding bar. It is a short-term expansion in price range or volatility. Outside bars form at the end of a trend and on breakout moves from consolidation in a trending period. Trader must use a discretionary approach in picking the outside bar setups for trading. In a trading range outside bars breakouts may be false signals.

The method to trade outside bars is to open position in the direction of outside bar’s high or low breakout. It is better to open trades when breakout happens in the direction of the outside bar. On bullish outside bar, look for upward breakout, and for a bearish outside bar, look for downward breakout of the outside bar. Trader must use discretion in picking outside bar trading setups. There may be many outside bars in chart but they all does not make good breakout trades. Outside bars formed at key support/resistance level are good setups. Breakout from consolidation with an outside bar setup is another good trading setup. See the image attached.
 

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edakad

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109 0
3rd Gen MA

Hello,
Third Generation Moving Average is a Client Side VTL indicator. It is an advanced version of the standard moving average (MA), which implements a rather simple lag-reducing procedure based on the longer MA period. The method was first described by Dr. Mafred Durschner. Moving averages are supposed to smooth data and to remove noise and useless information. Multiple moving average variants are used widely, for example Simple Moving Average (SMA) or Exponentially Moving Average (EMA). One challenge is that moving averages introduce a lag, i.e. the smoothed curve follows the trend usually later. 3rd generation MA reduces the lag and follows price trends closely.
As you see in the image, the 3rd Generation MA (red line) offers slightly less lag than the conventional EMA (green line) and reacts to the price changes faster. Unfortunately, it is still prone to lag and may produce false signals. You can use the 3rd Generation Moving Average indicator the same as the standard moving average, to detect the current trend direction. It can be used to generate trading signals also, price crossing the 3rd Generation MA can be used as a buy signal and vice versa for sell signals. It is better to use this with other confirmatory signals.

 

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edakad

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109 0
AMA & AMA Signals

Hello,
AMA and AMA Signals is a client side VTL Indicator. It plots the Kaufman Adaptive Moving Average (KAMA) on the chart and identifies the market trend with the dots plotted on the KAMA line.
The most general use of moving average (MA) is trend identification. The rising MA line signals uptrend and declining MA line signals down trend. KAMA will closely follow prices when the price swings are relatively small and the noise is low. KAMA will adjust when the price swings widen and follow prices from a greater distance. This trend-following indicator can be used to identify the overall trend, time turning points and filter price movements. AMA and AMA Signals indicator identifies the KAMA turning points and plots green dots when the AMA is in uptrend and yellow dots when the AMA is in down trend. The dots on the AMA line can be used as a trend filter.
A simple trading strategy with this indicator is to Buy when the yellow dots turn to green dots, that is when the trend turns up. Sell position is opened when the green dots turn yellow, that is when the trend turns down. It can be used as trend filter in other trading strategies by checking the color of the dots. The KAMA line can be used as a trailing stop loss also. Another example to trade using the AMA & AMA Signal indicator is wait for price to reach support or resistance. After testing the support, if the AMA & AMA Signal Indicator gives a buy signal by plotting green dot, open a buy position. After testing a resistance, if the AMA & AMA Signal indictor gives a sell signal by plotting yellow dots, open a sell position. Stop loss can be placed a few pips above the KAMA line.
The indicator parameters:
1 KAMA Period – Period for AMA calculation
2 Fast - Fast period for AMA
3 Slow - Slow period for AMA
4 G and dk - Smoothing Constants
 

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edakad

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109 0
Double Inside Bar

Double Inside Bar is a Client Side VTL indicator. Double inside bar is a price action candles stick pattern where two inside bars form immediately. An inside bar is a bar whose high is less than the high of the previous bar and low is greater than the low of previous bar. The Double Inside bar pattern is two inside bars forming immediately.
Pattern detection rules are:
1 Price Bar 1 is an inside Bar.
2 Price Bar 2 is an inside Bar with price bars 3 and 4. (Bar 2 is inside the High low range of Bar 3 and Bar 4.)
See the chart with bar numbers. Note that second inside bar of the double inside bar pattern (bar number 2) is an inside bar with its preceding two bar high/low (bars 3 and 4).
The Double Inside bar pattern is marked in chart by the yellow up arrow. This pattern indicates consolidation and lack of volatility. Trading action is confined to a range during the formation of the last two bars in the pattern. The range is marked by the High and Low of Bar 2. After consolidation, breakout from this trading range will eventually occur. The Double inside bar pattern trading strategy uses this market behavior to open trades in the direction of breakout.

Trading the double inside bar pattern is really straight forward. Anticipating a breakout either up or down, place two pending stop orders few pips above the high/low of the FIRST inside bar’s mother bar, that is bar 2. See the chart attached. Once an order is triggered, the other order work as stop loss for the trade. Trailing stop loss can be applied to lock in the profits. The double inside bar pattern gives better results on higher timeframe charts.

 

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edakad

Active member
109 0
Harami - VertexFX

Harami is a Client Side VTL Indicator to identify Bullish and Bearish Harami candle stick patterns. When the Harami pattern appears, it depicts a condition in which the market is losing its steam in the prevailing trend direction. The Harami consists of a small real body (candle open close range is the real body) that is contained within the preceding large candles' (Master Candle) real body. A bullish Harami comes after an upward price move and bearish Harami comes after a downward price move. The VTL indicator plots an up or down arrow after the Harami pattern is confirmed, that is, on the next candle after the Harami.
A buy signal could be triggered on the day after the bullish Harami occurred, if price close higher than Harami candle’s close price. Confirming the reversal with a down trend lines is a good practice. A sell signal could be triggered on the day after bearish Harami occurs, if price close lower than Harami candle’s close price and an uptrend line break happened. Note that the Harami candle in the chart is the candle prior to the up or down arrow in chart. A sell trade example is show the chart.
The Harami detection algorithm can be customized through parameters. Open the VTL script in VTL editor and parameter values are located at the top of the script file. Change the parameter values and compile the script and apply to chart.
1 Minimum Master Bar Size - Value in Pips
2 Maximum Master Bar Size - Value in Pips
3 Minimum Harami Bar Size – Value in Pips
4 Maximum Harami Bar Size – Value in Pips
5 Maximum Harami Bar to Master Bar Ratio
6 Minimum Harami Bar to Master Bar Ratio
7 Arrow Offset - Marker arrow offset from High/Low of Bar

 

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edakad

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109 0
Hull Moving average

Hull Moving Average (HMA) is Client Side VTL Indicator, is an extremely fast and smooth moving average that almost eliminates the lag associated with moving averages. The major disadvantage with moving averages is the inherent lag associated with them. HMA reduces the lag with common moving averages like Simple MA and Exponential MA.
HMA calculation process is first you define the HMA period (e.g. period = 16). Then,
1 Calculate the Weighted Moving Average (WMA) for half of the period (period/2, i.e. 16/2 = 8) and for full period (16) WMA.
2 Subtract the full period WMA from half period WMA multiplied by 2. (WMA(8)*2 – WMA(16))
3 Calculate the square root of the full period. (Sqrt(16) = 4)
4 Calculate WMA with square root of period in step 3 as period on the result got in step 2. (WMA(4) of result in step 2)

Like moving averages HMA is used to identify the trend direction. The direction of the HMA line shows the trend direction. When the HMA line is rising, trend is up and when the HMA line is falling trend is down. Also price trading above the HMA indicates uptrend and price trading below HMA line indicates down trend. Slope of the HMA line shows the strength of the trend.

HMA can be used to generate entry signals in trading strategies. First find the long term trend by the use of trend lines or any other trend identification method. A short term HMA is used for entry signals with this trend. In long term uptrend, when the short term HMA turns up, buy position can be opened. In long term down trend, when short term HMA turns down after a pullback, short position can be opened. The chart attached shows an example sell trade with trend line and HMA. After the trend line is drawn with major swing highs, wait for price to pull back, in the pull back HMA will rise. When the HMA turn down again open Sell position.

The HMA indicator has the following parameters.
1 HMA Period – Period for HMA calculation
2 MA Shift - Shift if HMA is used as displaced moving average
3 MA Method – Moving average Calculation Method for internal indicator formula. Values can be 0 - SMA, 1 - EMA, 2 - SMMA, 3 – LWMA
4 MA Price - Price field used for HMA. Values can be 0 - Close, 1 - Open, 2 - High, 3 - Low 4 - Median, 5 - Typical 6 - weighted
 

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edakad

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109 0
Price Action

Price Action is a Client Side VTL Indicator to display the important price action candle stick patterns; Pin Bars, Inside Bars and Engulfing Bars. The patterns are marked in chart by vertical lines below the candle chart in a new pane.
• Red – Pin Bars
• Green – Engulfing Bar
• Yellow – Inside Bar
The height of the vertical line shows the strength of each pattern with a scale 1 to 4. The pattern strength is calculated based on how the pattern is formed in relation to its adjacent four bars. The higher the line the stronger the pattern. Pattern Name and whether the pattern is bullish or bearish and pattern strength is displayed in the Data Window tab of the terminal.
Trading Strategies:
Pin Bars – Pin bars usually indicate trend reversal. When they are formed at support resistance levels, they generate strong signals. A bullish pin bar is formed at a support level and the pattern strength is 3 or 4, odds favor a price reversal. Trades can be opened above the high of the pin bar. When Bearish Pin bar is formed at resistance level and pattern strength reads 3 or 4, then short position can be opened on a break of the low of the Pin Bar.
Engulfing Bar: Similar to Pin bars, strong Engulfing bars formed at support or resistance levels are good trading signals. Open trades on breakout of the engulfing bar in the direction of the Engulfing Bar.
Inside Bar: Inside Bars represent consolidation. They are suitable for breakout trading. When a strong inside bar pattern is picked by the Price Action indicator, open new trades on breakout of the mother bar.

 

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