Critical Point

  • SKU: 869
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Developed By: NeeduVerdeSolution

In stock

Critical Points is a handy VertexFX client side VTL indicator that shows support and resistance levels and trading ranges based on the trend and price movements. In the first step we calculate the Moving Average of the specified MA TYPE and MA PERIOD.
In the next step we calculate the 8 Fibonacci levels above and below the Moving Average based on FIBO_1, FIBO_2, FIBO_3, FIBO_4, FIBO_5, FIBO_6, FIBO_7 and FIBO_8 distances provided by the user.

(Downloads - 1567)

SKU: 869 Categories: ,

Critical Points is a handy VertexFX client side VTL indicator that shows support and resistance levels and trading ranges based on the trend and price movements. In the first step we calculate the Moving Average of the specified MA TYPE and MA PERIOD.
In the next step we calculate the 8 Fibonacci levels above and below the Moving Average based on FIBO_1, FIBO_2, FIBO_3, FIBO_4, FIBO_5, FIBO_6, FIBO_7 and FIBO_8 distances provided by the user.

These levels are termed as Critical Points, as price exhibits support and resistance at these levels. For example, the immediate Support is the FIBO_1 level below, and the immediate Resistance is FIBO_1 level above. When the FIBO_1 level is breached from above, that is the support is broken, it now becomes the resistance and the FIBO_2 below becomes the new support.

These Fibonacci levels are used to determine nearest support and resistances and place stop-losses or entry levels accordingly. In sideways markets, price bounces of support and falls down from resistances. When the support or resistance is broken with strong volume, it indicates the start of a new trend direction.
 

NOTE:
This indicator does not provide Buy or Sell signals.

Usage

  • Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
  • Copy it to your company VertexFX Local VTL Files folder i.e. C:ProgramDataVertexFX Client Terminals”Company name”VTL10Local 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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