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  • Bullish Reversal is a long only client side VTL auto trader. This is a bullish candlestick reversal pattern-based auto trader. The following bullish patterns are identified and when the pattern...
    Bullish Reversal is a long only client side VTL auto trader. This is a bullish candlestick reversal pattern-based auto trader. The following bullish patterns are identified and when the pattern completes, the autotrader open buy position. All these candlestick patterns involve three candles.
    Abandoned Baby. The candlestick pattern is formed when:
    1. The first bar is a large down candlestick located within a defined downtrend.
    2. The second bar is a doji candle (open is approximately equal to the close) that gaps below the close of the first bar.
    3. The third bar is a large white candle that opens above the second bar.
    Morning Doji Star. The candlestick pattern is formed when:
    1. First candle is in a downtrend and have a black body
    2. Second candle is doji and the doji body is below the previous candle body
    3. Third candle is white body and candle body above the previous candle body
    Three Inside Up. The candlestick pattern is formed when:
    1. The market is in a downtrend or a move lower.
    2. The first candle is a black (down) candle with a large real body.
    3. The second candle is a white (up) candle with a small real body that opens and closes within the real body of the first candle.
    4. The third candle is a white (up) candle that closes above the close of the second candle.
    Three Outside Up. The candlestick pattern is formed when:
    1. The market is in a downtrend.
    2. The first candle is bearish.
    3. The second candle is bullish with a long real body and fully contains the first candle.
    4. The third candle is bullish with a higher close than the second candle.
    Three White Soldiers. The candlestick pattern is formed when:
    1. The first candle seems like the continuation of the downtrend. It is a bullish candlestick meaning the closing price should be more than the opening price and indicates that the bulls are back into the action.
    2. The second candlestick should also be bullish. The opening price should be within the real body of the first candlestick most preferably between the midpoint and closing price of the previous candlestick. The closing price should be above the previous candle’s closing price and should be higher than the previous candle’s closing price.
    3. The third candlestick should also be a bullish candlestick having no or small shadow. The opening price should be within the real body of the second candlestick most preferably between the midpoint and closing price of the second candlestick. The closing price should be above the previous candle’s closing price and should be higher than the previous candle’s closing price.
    The trading system entry rules are:
    1. A bullish candlestick reversal pattern is formed (The 5 patterns listed above).
    2. The price is below 50 period exponential moving average.
    3. Open a buy position on next candle start.
    The exit rules are:
    1. Exit when stop loss of target is hit.
    2. Exit when the trailing stoploss is hit.
    The stoploss, take profit, and trailing stoploss is configured with the parameters of the autotrader. By default it apply a trailing stoploss only.
    The autotrader works better on higher time frame charts like daily, weekly, etc. Test it on different timeframes before using it.
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  • Momentum deviation bands is a client side VTL indicator. It is similar to Bollinger bands. Bollinger bands use standard deviation of price in band calculation. Momentum deviation bands use...
    Momentum deviation bands is a client side VTL indicator. It is similar to Bollinger bands. Bollinger bands use standard deviation of price in band calculation. Momentum deviation bands use momentum of price instead of standard deviation. It is used in the same way as Bollinger bands.
    Momentum deviation bands identify oversold overbought conditions in the asset price. It can be used to create mean reversion strategies as well as trend breakout strategies. A close above the upper band suggests a trend breakout. When price goes too far away from the upper band, it suggests an overbought situation and mean reversion strategies can be applied.
    When the band width is relatively small and it suddenly expands, it suggests a new trend development. Trades should be confirmed with other non corelated indicators. For example, when a upward breakout is identified by the momentum deviation bands, look for confirmation with some volume based indicator.
    Parameters:
    Period - Number of bars to calculate the bands
    Multiplier -A multiplication factor, similar to standard deviation in Bollinger bands
    MomPeriod -Momentum calculation period
    MomPrice -Price field for calculations, 1 Close, 2 Open, 3 High, 4 Low, 5 Median, 6 Typical, 7 Weighted
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  • TraderOne started a new discussion, Elegant Oscillator - VertexFX
    Elegant Oscillator - VertexFX
    The elegant oscillator is client side VTL indicator. It is based on signal processing algorithms and used in mean reverting trading systems. Mean Reversion theory suggests that after an extreme...
    The elegant oscillator is client side VTL indicator. It is based on signal processing algorithms and used in mean reverting trading systems. Mean Reversion theory suggests that after an extreme price move, asset prices tend to return back to normal or average levels. Prices routinely oscillate around the mean or average price but tend to return to that same average price over and over. Mean reversion strategies open trades when price moves to extreme levels, expecting price to return to the historical mean price. This is a counter trend trading strategy.
    The elegant oscillator helps in identifying extreme price levels. Elegant Oscillator is a technical indicator based on signal processing techniques. It calculates the inverse Fisher transform of price and applies the smoothing filter to it. The resulting line oscillates between the values -1.0 and +1.0. Find out the extreme levels it reached in the historical chart and open a counter trend trade when it reaches around the historical extreme levels. It is better to be used with other indicators to confirm the signals.
    Parameters:
    Band Edge – Parameter to calculate the band edge, default is 20
    Oscillator Period - Number of bars in the indicator calculations, default is 50
    Price - Price field to calculate the indicator. 1 Close, 2 Open, 3 High, 4 Low, 5 Median, 6 Typical, 7 Weighted

    Test the indicator on charts with different parameter values and pick the best parameter values for each instrument before using it in trading.

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  • TraderOne started a new discussion, Didi Index Clean & Reversed
    Didi Index Clean & Reversed
    Didi index clean and reversed is a client side VertexFX VTL indicator. It is adapted from the Didi index indicator. In this version the slow line is displayed. The Did index is based on moving...
    Didi index clean and reversed is a client side VertexFX VTL indicator. It is adapted from the Didi index indicator. In this version the slow line is displayed. The Did index is based on moving averages and show the trend direction. Didi Index CR is used in different ways by traders. When the Index is above 1, the trend is up, when it is below 1, the trend is down. In the original version of Didi Index, Trend is up when the slow line is below 1. Hence the name reversed.
    A simple method to trade is when the Didi index cross above the middle line, open a long trade, if it cross below the middle line, open a short position. The middle line is placed at 1. Use a fixed target and stoploss or base stoploss on support resistance levels. As the index shows the trend, one can open positions when pullback happens to a support/resistance level.
    Parameters:
    MA Method: Moving average type, 1 SMA, 2 EMA, 3 WMA
    Applied Price: Price field for indicator calculation, 1 Close, 2 Open, 3 High, 4 Low, 5 Median, 6 Typical, 7 Weighted
    Mean Period: Mean MA Period
    Slow Period: Slow MA Period



    Try different set of parameter values and back test the indicator before starting to trade with Didi Index. The indicator can be coupled with other indicators to generate reliable trading signals.
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  • Close Bollinger bands crossover is a client-side VTL indicator. This indicator is based on Bollinger bands. The idea behind Bollinger bands is when the price is above the upper band, it is too...
    Close Bollinger bands crossover is a client-side VTL indicator. This indicator is based on Bollinger bands. The idea behind Bollinger bands is when the price is above the upper band, it is too high, and a mean reversion is expected. This indicator marks a red down arrow when the price closes above the upper Bollinger band. When the price close inside the Bollinger bands after closing above the upper band, it plots a green up arrow.
    This indicator is useful in short-term mean reversion trading. When the red arrow appears, consider opening a short trade and then cover the short trade when the price closes inside the band. However, in strong trends, this may fail. It is better to use these signals in rangebound market conditions.
    Parameters:
    1. Period – The Bollinger band period, default is 20
    2. Deviation – The standard deviations for bands, default is 2
    3. Shift – Bar shift, default is 0



    The basic assumption of Bollinger bands is price will remain inside the band most of the time, when price moves beyond the band, it will immediately come back inside the band. However, in strong trends, prices remain outside the band for longer periods before reverting inside the band. Identifying the overall market conditions before using the signals to open trades is important. In rangebound market conditions, these signals work better.
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