BarPoints
is a custom indicator for the VertexFX trading platform. BarPoints indicator
consists of two lines, green and red lines.
The red line is drawn when market has a price
movement downwards, and green line is drawn when the market is in upward movement.
Method
of calculation of BarPoints indicator:
When calculating the values of the indicator, we compare the value of the price of the last two bars. If the closing price of the last bar more than the maximum price of the previous bar + a given step this is a signal that the uptrend is present on the market. In this case, BarPoints indicator will be displayed on the chart as a green line. If the closing price of the last bar less than the minimum price of the previous bar + a given step this is a signal that the downtrend on the market. In this case, an indicator will be displayed as a red line.
Trading
using BarPoints indicator:
Buy: Place a buy position when the green line appears on the chart.
Sell: Place a sell position when the red line appears on the chart.
The
indicator works well with a variety of symbols and at different timeframes, but
it is advisable to use the indicator at time intervals greater than 30 minutes.
The indicator can be used directly for a trade or as a supplement to your
trading system.
To use BarPoints
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 BarPoints indicator: