Trend Signal is a
VertexFX client side VTL indicator that gives precise entry and exit signals.
This indicator is based on the Average Directional Movement (ADX) and
Directional Movement +DI (PDI) and -DI (MDI) indicators.
At first step we
calculate the ADX over the ADX_PERIOD.
In next step we
calculate the dynamic period (SSP) by dividing K_PERIOD by this ADX value.
Next, we calculate the Highest High and Lowest Low over this dynamic period (SSP).
The Highest High and
Lowest Low are smoothed using the smoothing constant K. A Buy signal
is generated if the price closes above the smoothed Highest High, and a
Sell signal is generated if the price closes below the smoothed Lowest
Low.
Buy: Place Buy
position at close of candle when indicator displays Green arrow. Do no open
position if candle has gap-up opening. Stop can be place at the nearest swing
low during a Buy position.
Sell: Place Sell
position at close of candle when indicator displays Red Sell arrow. Do not open
position if candle has gap-down opening. Stop can be placed at the nearest
swing high during a Sell position.
To use Trend Signal 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 Trend Signal indicator: