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Forex Trading Laboratory

Extend Trendlines tool

Extend Trend Lines is a VTL Client-side indicator for elongating the trend lines on the chart to the last bar. Traders usually draw trend lines on the chart and use them as support resistance levels. When a trend line breakout happens, it is the beginning of a new trend. One issue with trend lines drawn manually on the chart is that they do not get elongated when new bars form on the chart. It should be manually adjusted with new bars. Extend Trend Lines VTL Indicator takes care of this situation. It automatically adjusts all trend lines on the chart to the last bar. It monitors the trend lines on each new bar and adjust them. This is useful when the trader opens the terminal on a new day and the old trend lines are short and need adjustments.

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STARC Bands VertexFX

Stoller Average Range Bands – STARC Bands – is used in trend trading where a range breakout is considered. This Client Side VTL indicator draws the STARC bands on chart. STARC bands are three bands forming a channel around a simple moving average. The indicator is similar to Bollinger Bands but does not use standard deviations in its calculation. It is calculated by means of Average True Range (ATR) providing more detailed information on market volatility.

STARC bands is used in two modes. First one is as a trend following indicator. For this enter 1.33 for parameter KATR. Now when price breaks out of the bands, there is a high probability that price move will continue in that direction. Open positions in the breakout direction.

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ATR Ratio - VertexFX Indicator

ATR Ratio (Average True Range Ratio) is a VertexFX Client Side VTL Indicator. It plots the ratio between a long-term ATR and a short-Term ATR. ATR is a measurement of market volatility, when the price trend is strong, ATR values rise and consolidation is marked by low ATR values. ATR ratio shows the present market volatility in relation to long term market volatility. It is calculated by dividing the short term ATR with Long term ATR. ATR Ratio above one indicates the current market volatility is higher.
How to Use ATR Ratio Indicator

Bollinger Bands High Low - VertexFX Indicator

Bollinger Bands High Low (BB HL) indicator is a finetuned version of the Standard Bollinger Bands indicator. Bollinger Bands defines and plots an upper band and lower band within which most of the price bars are confined. The calculation of Bollinger bands is based on a short term moving average that determines the trend. The upper and lower bands are two standard deviations away from the base moving average. Standard Bollinger Bands uses the closing price of each candle in its calculation. In this refined Bollinger bands High Low indicator, the upper band is based on the standard deviation of candle high and lower band is based on the standard deviation of candle low, instead of the candle close used in standard Bollinger bands.

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Inside Bar Outside Bar - VertexFX

Inside Bar Outside Bar is VTL Client Side indicator to identify the Inside Bar and Outside Bar candle patterns. Inside Bar is a price bar with its high less than previous bar’s high and low greater than previous bar’s low. They are marked by the red arrows in chart. Outside Bar is a price bar with its high greater than previous bar’s high and low less than previous bar’s low. They are marked by the blue arrows in chart.
Inside Bar Trading Strategy
An Inside Bar means a contraction in price range or volatility. It is a pause in price movement and does not show any strength in price direction. This will lead to a breakout from this trading range.

Outside Inside Bar - VertexFX

Outside Inside Bar is a candlestick chart pattern where an inside bar is immediately followed by an outside bar. An inside bar is a bar with its high less than the previous bar high and low greater than its previous bar low. An outside bar is a bar with its high greater than its previous bar high and low less than its previous bar low. An outside bar indicates strong prices movement in both directions, up and down. Inside bar indicates lack of direction in price movement. Thus the Outside Inside Bar pattern indicates a temporary pause after a strong price move in both directions. This will lead to a breakout from the trading range marked by the inside bar.

Price Action - VertexFX

Price Action is a Client Side VTL Indicator to display the important price action candle stick patterns; Pin Bars, Inside Bars and Engulfing Bars. The patterns are marked in chart by vertical lines below the candle chart in a new pane.
• Red – Pin Bars
• Green – Engulfing Bar
• Yellow – Inside Bar
The height of the vertical line shows the strength of each pattern with a scale 1 to 4. The pattern strength is calculated based on how the pattern is formed in relation to its adjacent four bars. The higher the line the stronger the pattern. Pattern Name and whether the pattern is bullish or bearish and pattern strength is displayed in the Data Window tab of the terminal.
Trading Strategies:

Hull Moving Average - VertexFX

Hull Moving Average (HMA) is Client Side VTL Indicator, is an extremely fast and smooth moving average that almost eliminates the lag associated with moving averages. The major disadvantage with moving averages is the inherent lag associated with them. HMA reduces the lag with common moving averages like Simple MA and Exponential MA.
HMA calculation process is first you define the HMA period (e.g. period = 16). Then,
1 Calculate the Weighted Moving Average (WMA) for half of the period (period/2, i.e. 16/2 = 8) and for full period (16) WMA.
2 Subtract the full period WMA from half period WMA multiplied by 2. (WMA(8)*2 – WMA(16))
3 Calculate the square root of the full period. (Sqrt(16) = 4)
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