Leman Trend Indicator and Alert

Leman Trend indicator tries to identify the trend direction by measuring price acceleration. For price acceleration, Leman trend uses 3 different periods. The upward momentum of price is plotted as a green line and downward momentum as a red line.

When the upward momentum rises above downward momentum, (green line crossing above red line) trend direction is up and the opposite for down trend. The green and red line cross over can be used for trading signals. When green line rises above red line, price is expected to trade higher and when red line rises above green line, price is expected to trade down.

The indicator triggers an alert when a crossover happens between green and red indicator lines. The three periods to measure price acceleration can be customized through the parameters;

1- “min” – smallest period,
2- “max” – longest period
3- “mid”- middle range period.

The acceleration is smoothed with an exponential moving average. This EMA period can be adjusted through the parameter “periodEMA” and “sound” parameter turns on/off the alert.

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.