Smooth Candle Indicator
$0.00
Smooth Candle Indicator is a VTL indicator that smooths out the candles with a moving average of Open, High, Low, Close. This indicator can be used with other filters to confirm trend or can be used as a filter to existing systems.
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Smooth Candle Indicator is a VTL indicator that smooths out the candles with moving average of Open, High, Low, Close. This indicator can be used with other filters to confirm trend or can be used as a filter to existing systems.
By default the indicator uses a 5 period simple moving average for smoothing. When the trend is down, the candle highs usually keep below the upper channel line and in an uptrend the candle lows are usually above channel low.
In a trend pull backs to channel extremes can be used for opening trades in the direction of trend. The channel also shows the trend direction. In non trending markets, the channel extremes can be used to fade, when price reaches the top of the channel, open short position and vice verse.
Usage
- Download the attachment.
- Copy it to your company VertexFX Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Scripts
- Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.
Additional information
| Plugin-Type | Client VTL – Custom Indicator |
|---|---|
| Compatibility |
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