iAvgVol (Average Volume Indicator)

The iAvgVol indicator is a client side VTL Script which displays the current volume (BLUE) and the moving average of this volume (RED) over the 5 bars on the chart. Increasing average volume (RED) means that the price is getting strong on the chart, and a decreasing average volume means that price is falling. It is used to determine start and end of trends. When the volume in vertex fx chart(BLUE) and the average volume (RED) both are moving upwards, it implies the start of strong uptrend. The trader may consider exiting SHORT positions (if any), and opening LONG positions.

When both the volume (BLUE) and the average volume (RED) in the vertex fx are both moving downwards, it implies the end of uptrend and start of a downtrend. The trader may consider exiting LONG positions and opening SHORT positions. In vertex Fx this local script can be used with other volume based and price based indicators to confirm the direction of a trend. 

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.