Buy Sell Signal

Buy Sell Signal is a powerful VertexFX client side VTL indicator, based on the Simple Moving Average (SMA), Exponential Moving Average (EMA), Relative Vigor Index (RVI) and Moving Average Convergence Divergence (MACD) indicators that provides precise BUY or SELL signals.

This indicator provides three types of BUY and SELL signals. The first type of signal, is based on the SMA and EMA crossover. The second type of signal, is based on the MACD crossover, and the third type of signal is, when both the first type and second type of signals occur concurrently. The advantage of this indicator is that, it is based on the probability of two trend-following signals. When both the trend following signals are triggered on the same candle, (or at near proximity to each other) this is a double confirmation of the strength of the trend, and market direction.

In the first step we calculate the 16-bar SMA, and the 9-bar EMA.
In the next step, we calculate the MACD based on 12-bar (Fast Period), and 26-bar (Slow Period), and 9-bar (Signal Period) values.

In the first type of signal, a BUY signal is generated, when the EMA crosses above the SMA, and a SELL signal is generated when the EMA crosses below the SMA .
In the second type of signal, a BUY signal is generated when the MACD main crosses above the MACD signal line, and a SELL signal is generated when the MACD main crosses below the MACD signal line.

Finally, when both signals of the same type occurr on the same candle, the combined Buy Sell Indicators signal is generated.

Buy: Placr BUY position when indicator generates Green Buy arrow. Do not place trade, if candle has gap up opening.

Sell: Place SELL position when indicator generates RED sell arrow. Do not place trade if candle has gap down 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.