WSS Forex Instrument

WSS Forex Instrument Expert Advisor is a pivot-based VertexFX client-side script that places trades based on Camarilla (Daily) pivot levels.

Camarilla Pivots based on Daily charts are very powerful in identifying Support and Resistance levels. When the price crosses these levels, the likelihood of a strong breakout is very high. This Expert Advisor uses this concept to identify profitable trading opportunities.

We calculate the Camarilla Pivot by adding the previous Day’s Open, High, Low and Close, and then dividing this sum by 4.
We then proceed to calculate the four levels, namely LWB, LBB, LWR and LRR as follows:

LWB is calculated by adding the value of METRIC to the Camarilla Pivot calculated in the first step. The value of LBB is calculated by adding twice the value of METRIC to the Camarilla Pivot calculated in the first step. The value of LWR is calculated by subtracting the value of METRIC from the Camarilla Pivot calculated in the first step. Finally, the value of LRR is calculated by subtracting twice the value of METRIC from the Camarilla Pivot calculated in the first step.

These four levels are the trading bands which must be first broken in order for a breakout to happen. These bands occur within the range of the previous Day.

Finally, the EA calculates buy and sell levels as follows,
The BUY_LEVEL is the maximum value of LRR and 0.55 times the previous Day’s Low subtracted from the sum of previous Day’s Close and High.
The BUY_LEVEL is the minimum value of LRR and 0.55 times the difference between previous Day’s High and Low subtracted from the previous Day’s Close.

The Expert Advisor then places a BUY STOP order at the BUY_LEVEL and a SELL_STOP order at the SELL_LEVEL. If either order is executed, then the pending opposite order is deleted.
The Expert Advisor trades only between the START_HOUR_FROM and END_HOUR_FROM. Pending orders are placed when the session is active. Once the session becomes inactive, pending orders and open positions are closed.

The Expert Advisor also employs a trailing stop with a distance specified by TRAIL for track and protect profitable positions.

Configurable Inputs

1. LOTS – The lot-size of each trade opened by this Expert Advisor.

2. TRAIL – The trailing stop of each trade in points.

3. START_HOUR_FROM – The hour from which trading is allowed. New trades are opened only between START_HOUR_FROM and END_HOUR_FROM.

4. END_HOUR_FROM – The hour at which trading is stopped. New trades are opened only between START_HOUR_FROM and END_HOUR_FROM.

5. METRIC – The distance in points from the Camarilla pivots where the trade entry points are set.

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.