Candles Ratio is a Client Side VertexFX VTL indicator. Candles Ratio
indicator plots the ratio of the candle body for the last 20 bars. The ratio is
calculated by taking the open close relationship of candles.
The up close candle body sizes are summed for the last 20 bars and
also the down candle body sizes are summed for the last 20 bars. Then the sum
of the body size of up candles is divided by the sum of the body size of down
candles to get the candles ratio indicator.
The indicator is plotted as line below the candle chart. The Candles
ratio indicator shows the underlying trend in the market. If the indicator is
rising and above 1, most of the candles are closing above its open indicating
an upward bias in price move. Lower values below 1 indicate most of the candles
are closing below the open and down trend is in force.
The indicator is very helpful in anticipating breakout from
consolidation. If the indicator is above 1, an upward breakout is expected. If
the indicator is below 1, a downward breakout from consolidation is expected.
The candle ratio range (default 20) can be customized through the parameter
“period CN”.
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 Candles Ratio indicator: