Dots Indicator

Dots indicator is a VertexFX client side VTL indicator that displays the current direction of trend by placing colored dots on the required chart.

 Blue dots indicates an uptrend, and red dots indicates downward trend.

Although the Dots indicator does not base its calculations on standard indicators, but it uses a function called Moving Average (MA) for its calculation, depending on the price specified by the user (Open, Close, High, Low, Typical, and so on).

 The calculation is based on the cosine of the angle of price changes. Traders can change several input parameters from the parameters of the VTL. Input parameters: Length (default = 10) - the period of the indicator. The higher the value, the greater the time lag, but the fewer false alarms shows. AppliedPrice (default = PRICE_CLOSE) - price type for use in the calculation. Filter (default = 0) - a useful option to filter the spikes in prices without adding delays in the display. Deviation (Default = 0) - indicator moves vertically. Shift (Default = 0) - indicator moves horizontally. NBars (Default = 200) It determines the number of bars on which to build the indicator.

 Advice: The recommended strategy - wait for 2 completed bars and place the position in the direction of the trend.

To use Dots Indicator download it from here, then place it at VertexFX VTL directory:
C:\ProgramData\VertexFX Client Terminals\"Company name"\VTL10\Local VTL Scripts

Then right click on the tree and select refresh or restart your client station and you will find under  VTL local scripts in your client terminal.

You can check this video that talks about Dots Indicator:

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