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  • TraderOne started a new discussion, Auto Trend Lines - VertexFX
    Auto Trend Lines is a VTL Client-Side indicator to plot trend lines. It detects the peaks and troughs in the chart and then plot trend lines joining recent peaks for down trend line and the...
    Auto Trend Lines is a VTL Client-Side indicator to plot trend lines. It detects the peaks and troughs in the chart and then plot trend lines joining recent peaks for down trend line and the recent troughs for uptrend line. Trendlines are usually considered as strong support resistance levels. Traders can open buy positions when the down trend line is broken, and price remains above the trend line. Sell position can be opened when the uptrend line is broken, and price remains below the trend line.
    The Auto Trend Lines VTL can be used to identify geometrical chart patterns like Triangles and Flags. Symmetrical Triangles, Ascending triangles and descending triangles can be easily identified. Up and down flags can be identified with help of this indicator. It can be used to identify many other chart patterns like trend channels, pennants etc.

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  • Extend Trend Lines is a VTL Client-side indicator for elongating the trend lines on the chart to the last bar. Traders usually draw trend lines on the chart and use them as support resistance...
    Extend Trend Lines is a VTL Client-side indicator for elongating the trend lines on the chart to the last bar. Traders usually draw trend lines on the chart and use them as support resistance levels. When a trend line breakout happens, it is the beginning of a new trend. One issue with trend lines drawn manually on the chart is that they do not get elongated when new bars form on the chart. It should be manually adjusted with new bars. Extend Trend Lines VTL Indicator takes care of this situation. It automatically adjusts all trend lines on the chart to the last bar. It monitors the trend lines on each new bar and adjust them. This is useful when the trader opens the terminal on a new day and the old trend lines are short and need adjustments.

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  • Previous day high low is a Client Side VTL indicator that draws the last day’s high, low and today’s open on the chart. When day trading, the previous day’s high and low are important reference...
    Previous day high low is a Client Side VTL indicator that draws the last day’s high, low and today’s open on the chart. When day trading, the previous day’s high and low are important reference points or support resistance levels. In a bullish market price breaks above the previous day’s high early in the day and continue to trade above that level. In bear markets, price break below the previous day’s low early in the day and continue to trade below that level. Trading ranges form when price fails to break the previous day’s high or low successfully. This info alone can improve your trading results as this give you a clear vision of what is likely to happen today.
    Breakout trading strategies work best when price is above or below yesterday’s range. Trend following strategies also work best in this situation. When price is inside yesterday range, counter trend strategies work better. Oscillators like RSI and Stochastics work best in this situation.

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  • Close all On Timer is a VertexFX EA that closes all open positions and limit orders at a stipulated time. In Forex markets news releases have a high impact on price volatility. Big price moves...
    Close all On Timer is a VertexFX EA that closes all open positions and limit orders at a stipulated time. In Forex markets news releases have a high impact on price volatility. Big price moves happen when some unexpected new release comes. Economic calendars like the one at Fxstreet.com gives in advance the time of important news release. Many traders close their open positions before such important news release events. This helps in avoiding getting trapped in price moves following the event. The close all on Timer EA is developed to smoothly handle such situations.
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  • TraderOne started a new discussion, RSL VertexFX Indicator
    RSL VertexFX Indicator
    Levy’s Relative Strength Indicator (RSL) is used to identify the instruments showing strength and weakness. The concept of Relative Strength to Levy is based on the assumption that securities...
    Levy’s Relative Strength Indicator (RSL) is used to identify the instruments showing strength and weakness. The concept of Relative Strength to Levy is based on the assumption that securities which exhibited a large relative strength in the past will also develop relatively strongly in the future, and conversely. RSL is used to create balanced long-short portfolios in trading portfolios. For Currency traders, RSL can be used to pick the currency pairs showing the highest strength and weakness. Traders create a portfolio of positions by buying stronger instruments and selling the weaker instruments.
    The first step in creating a long-short portfolio is ranking all instruments based on their strength and weakness. Note down the RSL value of each currency pair at the start of the week or month. The pair that has the highest RSL value is the strongest one. The pair that has the lowest RSL value is the weakest one. Now open Buy positions on the top two stronger pairs and open sell positions on top two weaker pairs. Keep the positions open for the next week or month start. At the start of next week or month, again rank the instruments based on their RSL values and adjust the positions. This portfolio is hedged, market neutral and offer steady return over long periods of time.

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