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vStore VTL Plugins Free TrendValue

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TrendValue Featured

TrendValue is VertexFX client side VTL that is designed to determine the trend direction and provides a trend breakout trading strategy. It consists of 2 lines, red and green. Green line is the level of support and the Red line is the resistance level.

Method of calculation of indicator:
TrendValue indicator is based on Simple Moving Average (SMA) and Average True Range (ATR). At first step, we calculate the SMA and ATR with given inputs. Next, we determine the level of support and resistance levels: resistance levels = SMA * (kRes+ATR * ATRSensitivity) support levels = SMA * (kSup-ATR * ATRSensitivity) kRes, kSup - Horizontal shear rate indicator.

Trading using indicator: 

- If indicator the is Green Place a Buy position, you can place position directly after the appearance of the green color in the indicator, but it is better to place the deal when the price touches the support level - the green line.
- If the indicator line turns Red or if the price touches the resistance level (red line), place a Sell position.
 
The basis of the indicator TrendValue are moving averages and ATR, which allows you to make it more sensitive in flat market. The default settings are set for M5 timeframe.
 
Paramters:
- Period - the period used in the moving average. For higher TF recommended to increase.
- ShiftPercent - shift indicator horizontally as a percentage.
- ATRPeriod - period of the ATR indicator, is used in the calculation.
- ATRSensitivity - shear sensitivity ATR.
 

Usage

  • Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
  • Copy it to your company VertexFX Local VTL Files folder i.e. C:\ProgramData\VertexFX Client Terminals\"Company name"\VTL10\Local VTL Scripts
  • Restart your Client Terminal or Right Click on "Local VTL Scripts" Tree Node to find the script.

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18 March 2016
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