Volatiliy Channel Stop
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Volatility Channel Stop is a stop and reverse indicator. This VTL indicator draws a stop and reverse line above/below candles, when the line is blue, market is in a up trend and the line is red, market is in a down trend.
(Downloads - 1677)
Volatility Channel Stop is a stop and reverse indicator. This VTL indicator draws a stop and reverse line above/below candles, when the line is blue, market is in a up trend and the line is red, market is in a down trend. The red circle marks the trend reversal point for down trend and blue circle is the point at which trend reversed upward.
It can be used as a stand alone trading signal or the stop and reverse line can be used as trailing stop loss. This works best in trending markets.
The stop and reverse lines can be used to ride a trend until it finally reverses. The VTL script rises alert when a trend reversal is confirmed. In the picture where the red line is marked with “Trailing Stop Loss line” shows the usage of this as a trailing stop loss. Also note the red and blue circles marked with “Sell” and “Buy” where the indicator picks trend reversals.
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 |