Tarzan is
a powerful VertexFX client side indicator that provides precise entry and exit
signals based on market cycles. The concept behind this indicator is to
identify market cycles based upon a combination of the two popular indicators
Relative Strength Index (RSI) and Simple Moving Average (SMA).
At first
step, we calculate the Relative Strength Index (RSI) based on the PRICE FIELD
and RSI METHOD. The blue line is a RSI indicator. Then we calculate the Simple
Moving Average (SMA) of the Relative Strength Index (RSI). It is a line of red
and green (channel in the form of red and green dots).
The
indicator is built in a separate window. It consists of the blue line and the
channel in the form of red and green dots with the channel. The boundaries of
the channel formed by two lines of pink color.
Trading
using Tarzan indicator .
When the
channel color rectangle turns into green and the blue indicator line rises
above the upper boundary of the channel then it will be a signal to buy.
When the channel color rectangle turn into red and the blue line has fallen below the lower boundary of the channel then it is a signal to sell.
When the channel color rectangle turn into red and the blue line has fallen below the lower boundary of the channel then it is a signal to sell.
Recommendation.
The
indicator shows a very good all in trends ,but in the flat may appear false
signals, so it is best used in conjunction with other indicators. Tarzan may
operate on different time intervals.
Indicator
Parameters:
RSI
(default = 5) - averaging period for the calculations;
applied_RSI (default = 0) - what price used for calculation (0 - closing 1 - opening 2 - maximum 3 - Minimum 4 - average 5 - typical, 6 - weighted closing);
MA - (default = 50) averaging period for the moving
method_MA (default = 0) - averaging method
koridor (default = 5) - envelope threshold
applied_RSI (default = 0) - what price used for calculation (0 - closing 1 - opening 2 - maximum 3 - Minimum 4 - average 5 - typical, 6 - weighted closing);
MA - (default = 50) averaging period for the moving
method_MA (default = 0) - averaging method
koridor (default = 5) - envelope threshold
To use Tarazan 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.