Flat Trend is a
powerful VertexFX client side VTL indicator that gives excellent entry and exit
signals.
The Flat Trend
indicator is based on Parabolic SAR (PSAR) and the Average Directional Movement
(ADX), Plus DI (PDI) and Minus DI (MDI) indicators. The concept behind this
indicator is that the PDI and MDI indicators determine the primary trend, and
the PSAR confirms the trend. In the first step we calculate the Parabolic SAR
using a step of 0.02 and a maximum value of 0.20. In the next step we calculate
the ADX, PDI and MDI over the PERIOD number of bars.
The indicator
comprises of conditionsLIME, LIGHTGREEN, RED and PINK (SALMON).
Lime: When PSAR is below the Close and the PDI is greater than the MDI.
Light Green: When PSAR is below the Close but the PDI is less than the MDI.
Red: When PSAR is above the Close and the PDI is less than the MDI.
Pink/Salmon: When the PSAR is above the Close but the PDI is greater than the MDI.
Buy: Place Buy
position at close of candle when indicator color is LIME. Place stop loss below
nearest swing low. Exit position if indicator color turns PINK (SALMON), or
alternatively
keep a tight stop
loss.
Sell: Place Sell
position at close of candle when indicator color is RED. Place stop loss above
nearest swing high. Exit position if indicator color turns LIGHT GREEN, or
alternatively keep a tight stop loss.
To use Flat Trend 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 Flat Trend indicator: