TD
Points & Lines is
a powerful VertexFX client side VTL indicator that depends on Tom De-Marks support and resistance lines concepts.
The support (RED) and resistance (BLUE) lines must be
extended on the chart up to the current candle for identifying trading signals.
At first step we calculate
the Swing Highs and the Swing Lows starting from the recent candle to the
oldest candle.
The support (RED) line is drawn from the most recent Swing Low to
the nearest encountered Swing Low which is below the most recent Swing Low. As
a result, the support line has an upwards direction.
The resistance (RED) line is drawn
from the most recent Swing High to the nearest encountered Swing High which is
above the most recent Swing High.
The concept behind this
indicator is that when the support trend line is broken, then it marks the
beginning of a new downtrend, and hence a Sell position
should be initiated. Similarly, when the resistance trend line is broken, it is
considered as the beginning of a new uptrend, and hence a Buy position must be initiated.
-Buy: Place Buy position when price
cross above the projection of the Blue line on the current bar from below. Place
stop-loss below the support trend line.
-Sell: Place Sell
position when price cross below the projection of the Red line on the current
bar from below. Place stop-loss above the resistance trend line.
To use TD Points & Lines 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 TD Points & Lines indicator: