Trend Strength Indicator

Trend Strength Indicator is a VertexFX Client Side VTL based on a 5 period Simple Moving Average (SMA) that detects trends; if there is an uptrend then the indicator will display green bars, if there is a downtrend then the indicator will display red bars, if there is a weak trend then the indicator will display yellow bars.

The detection of the trend is calculated by dividing the Moving Average (MA) value by its previous one, so if its greater than 1 then there is an uptrend, if its lesser than 1 then there is a downtrend. 

You can control the performance of this indicator by changing its parameters , the kind of moving average and its period. The default value of moving average period is 5 and default value of rate is 0.0001.

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.