BarPoints

BarPoints is a custom indicator for the VertexFX trading platform. BarPoints indicator consists of two lines, green and red lines. The red line is drawn when market has a price movement downwards, and green line is drawn when the market is in upward movement.

Method of calculation of BarPoints indicator:
When calculating the values of the indicator, we compare the value of the price of the last two bars. If the closing price of the last bar more than the maximum price of the previous bar + a given step this is a signal that the uptrend is present on the market. In this case, BarPoints indicator will be displayed on the chart as a green line. If the closing price of the last bar less than the minimum price of the previous bar + a given step this is a signal that the downtrend on the market. In this case, an indicator will be displayed as a red line.

Trading using BarPoints indicator:
Buy: Place a buy position when the green line appears on the chart.
Sell: Place a sell position when the red line appears on the chart.

The indicator works well with a variety of symbols and at different timeframes, but it is advisable to use the indicator at time intervals greater than 30 minutes. The indicator can be used directly for a trade or as a supplement to your trading system.

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.