What is the Spyker Indicator?
Spyker is a VertexFX client side VTL
Indicator, that identifies sudden price jumps or spike bars in the chart.
The price spikes
happen usually at the end of trends or on breakout price moves. The silver
color indicator line plots the price spikes of each bar.
How Spyker works?
When the indicator
sharply jumps to an extreme level above zero, an upward spike bar is identified.
When the indicator falls sharply below the zero level, a downward spike bar is
identified.
Extreme readings in
the indicator pick the spike bars. The yellow colored line is the average of
the spike range of each bar, and it can be used as middle line to identify
upward and downward price jumps.
Spike bars can be used
in conjugation with other indicators or support/resistance levels to form
trading strategies. In the chart, price breaks resistance level with a spike
bar.
However after
breakout, price fails to trade above the spike bar. This is a clear indication
that the breakout is failing. Spike bars can be used similarly in developing
trading strategies.
To use Spyker
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
Spyker indicator: