Dots

Dots indicator is a VertexFX client side VTL indicator that displays the current direction of trend by placing colored dots on the required chart.

Blue dots indicates an uptrend, and red dots indicates downward trend. Although the Dots indicator does not base its calculations on standard indicators, but it uses a function called Moving Average (MA) for its calculation, depending on the price specified by the user (Open, Close, High, Low, Typical, and so on).

The calculation is based on the cosine of the angle of price changes. Traders can change several input parameters from the parameters of the VTL.

Input parameters:
Length (default = 10) – the period of the indicator. The higher the value, the greater the time lag, but the fewer false alarms shows.
AppliedPrice (default = PRICE_CLOSE) – price type for use in the calculation.
Filter (default = 0) – a useful option to filter the spikes in prices without adding delays in the display.
Deviation (Default = 0) – indicator moves vertically.
Shift (Default = 0) – indicator moves horizontally.
NBars (Default = 200) It determines the number of bars on which to build the indicator.

Advice: The recommended strategy – wait for 2 completed bars and place the position in the direction of the trend.

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.