IBS RSI CCI

IBS RSI CCI indicator is a VertexFX client side VTL indicator based on three popular indicator: RSI, CCI, and IBS. It is useful in determining cyclical market trends, especially turning points where the market changes direction. The concept of the indicator is to average values of the three indicators.

Methodology of calculation:
First, we calculate the values of the three indicators IBS RSI and CCI:
IBS – moving average of the IBS price array (arrClose-arrLow)/(arrHigh-arrLow) with a per_IBS period;
RSI – Relative Strength Index of the Close price with a per_RSI period;
CCI – Commodity Channel Index of the Open price with a per_CCI period.

Then we calculate the mean line of the indicator (yellow), mean line IBS*koef_ibs+CCI*koef_cci+RSI *koef_rsi)/3. For the calculation of the upper and lower levels  green and red line) we calculate Highest High (hhv) and the Lowest Low (llv) over the recent RangePeriod_VKWB bars. Then we calculate the moving average of the HHV and LLV values with a period SmoothMode_VKWB.

Top line indicator (green) is a moving average on HHV values, and the lower indicator line (red) is a moving average on LLV values.

Trading with the indicator:
Buy: Place Buy position at close of candle when the mean yellow line closes above the red line from below. Do not place Buy position if candle has gap-up opening.
Sell: : Place Sell position at close of candle when the mean yellow line closes below the green line from below. Do not place Sellposition if candle has gap-up opening.

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.