Full Damp

Full Damp is a VertexFX server side VTL expert adviser. The EA runs on the server auto trading irrespective of the fact the client terminal is started or not. The EA trades price reversal after extreme price moves in chart. It uses the Bollinger Bands and RSI indicator to open trades.

Extreme price move is identified by the Bollinger bands, price above/below Bollinger bands third standard deviation is taken as extreme price moves. Then it checks if the RSI was in overbought or oversold level in any of the last 6 bars. These two conditions identify an extreme price moves. Then when price closes within the Bollinger band second standard deviation, price reversal after the extreme is confirmed and position is opened.
Full Damp EA rules are:
• Buy – Price goes below the Bollinger band bottom third standard deviation and RSI is less than 30 in any one of the last six bars. (Signal Bar). Wait for price to close above Bollinger band bottom second standard deviation (Entry Bar). Buy on next bar open.
• Sell – Price goes above Bollinger band top third standard deviation and RSI is above 70 level in any one of the last six bars. (Signal Bar). Wait for price to close below Bollinger band top second standard deviation. (Entry Bar). Sell on next bar open.
• Exit – 1. Apply a stop loss at the highest high or lowest low from signal bar to entry bar.
2. Exit buy on next bar open if price goes above Bollinger band top second standard deviation. Opposite for sell position.
3. Exit half of the position on next bar open if price moves in favor equivalent to the risk (entry price – stop loss price).
4. Move stop loss to breakeven when partial profit booking is done The EA can be customized through the parameters.

Parameters are located at the top of the script. Open the EA in VTL editor and parameter values can be modified. The Bollinger band period, RSI period, position size, chart period to trade, symbol to trade etc. are defined in the parameters. 

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.