i-4 Golden Lion Trend Indicator

The i4-GoldenLion is a VTL Trend Indicator that marks the candle in 4 different colors based on trend strength.

• Blue : Strong uptrend. This may be a forewarning to trend reversal is imminent.
• Cyan : Medium strength uptrend
• Red : Strong down trend. This may be a forewarning to trend reversal is imminent.
• Yellow : medium strength down trend

The trend strength is calculated with Bollinger bands.When a candle high is above two standard deviations, it is marked as strong up trend and when candle high is above one standard deviation, it is marked as medium strength up trend. The opposite rules are applied for down trend.

The Bollinger band period and standard deviation levels can be adjusted through input parameters. This indicator can be used to identify trend strength, when it marks extremely high trend strength with blue and red bar markings, it may be a warning that the trend is climaxing or overbought/oversold situation. Medium strength trends are likely to continue in the same direction.

Usage

• Download the attachment.
• Copy it to your company VertexFX  Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.