X-Points Indicator

X-points Indicator is a VTL indicatopr which marks the reversal candles with blue and red arrows. This indicator can be used with other indicators for confirmation of trend reversal. This is based on an upper band, lower band and price location relative to this band.

X-points indicator warns of possible trend reversal in advance. It can be used as a stand alone trading tool or in combination with other strategies. X-points has the following parameters per = 3 – channel building period xrate = 1.5 – minimum rate xsize = 5.0 – minimum bar height (High-Low) xslope = 0.0 – minimum increment of the next bar xminupdn = 10.0 – minimum channel width xhour1 = 9 – Start hour, from which signals are allowed xhour2 = 19 – End hour, up to which channels are allowed xindent = 15 – signal indent from the chart (it can be used for Stop Loss, too)

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.