HLCrossSig for WPR

HLCrossSig for WPR – is a VertexFX client side VTL indicator that is intended for “catching” trends.It’s a pretty complex and informative indicator that allows excluding the psychological and emotional influence from trading.

This indicators shows levels for opening positions, setting stop levels, Trailing Stop and Take Profit, what leaves no doubts for a trader whether to perform a deal or not. Avoiding psychological and emotional influence in trading is a key factor for getting a profit on the market. Alerts are displayed in conventional arrows. Blue is for buying, and red is for selling. Orange star – Production levels of the stop loss They also can be used for the trailing stop, but move on when trailing better position to profit will be comparable to the size of the initial stop. Yellow point show extremes in the course of the position. Violet star – the level setting take profit.

Method of calculation and construction of the indicator:

1. First, we make the calculation of three forex indicators: Simple Moving Average – HAOpen(i) Average True Range – ATR_P(i) Williams percent range – WPR_Filter(i)
2. Then we calculate the Highest High and Lowest Low over the P – period bars (LHigh and LLow).
3. Next we check the conditions for the formation of signals to buy and sell: Buy signal if: ((arrHigh(i) more or equal than LHigh AND arrClose(i) more than arrMedian(i) AND arrClose(i) more than HAOpen(i) AND arrHigh(i) more than HAOpen(i) AND WPR_Filter(i) more or equal thanHLine AND Flag less than ) OR (arrClose(i) more or equal than arrX1(i-1) AND arrHigh(i) more than LHigh )) Sell signal if: ((arrLow(i) less or equal than LLow AND arrClose(i) less than arrMedian(i) AND arrClose(i) less than HAOpen(i) AND arrLow(i) less than HAOpen(i) AND WPR_Filter(i) less or equal thanLLine AND Flag more than ) OR (arrClose(i) less or equal than arrX1(i-1) AND arrLow(i) less than LLow ))
4. Levels trailing stops are values of LHigh and LLow (for the uptrend and downtrend).

Input parameters of the indicator:

P(default = 6) – Period of the break through range; the greater is the value, the later and rarer are the signals.
RMA(default = 21) – Period of the Heiken Ashi variable. Used as an additional filter.
Risk(default = 0) – Maximal risk in pips, used for calculation of the level of entering on the basis of a closest MAX/MIN level.
ATR_P(default = 120) – АТR period. Used for calculation of volatility.
Q (default = 0.7)- Parameter for placing Take Profit. – A rate of Stop Loss. If = 1, Take Profit = Stop Loss.
Period_WPR(default = 12)-parameter for the WPR oscillator .
HLine(default = -38) – Upper signal line of stop levels for WPR LLine(default = -62) – Lower signal line of stop levels for WPR.

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.