Karenko

Karenko indicator is a VertexFX client side VTL indicator that consists two lines. The blue line is the level of support, and the green line is the level of resistance. Support and resistance levels can be used to open orders, fixing trades and minimize losing trades.

Karenko indicator consists of three components: SMA (simple moving average), ATR (average true range), 1.618 (fib-factor). It works well on any time frame and any financial instruments. With help of the karenko indicator you can easily find duplicate pieces of the market (patterns) and use historical data to make predictions about future price movement. This is a good tool for traders and analysts that gives a very accurate prediction

To learn how to do good and accurate forecasts, you need some time to work with the indicator. After receiving the necessary experience you will be able to intuitively feel the market and which will accurately predict the price movement to the next segment.

The indicator has two input parameters, which you can change at your discretion:
Period_MA (Default =144) – the period of the Moving Average.
NBars (Default = 300) – It determines the number of bars on which to build the indicator.

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.