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Prophet

Prophet VTL Auto Trader is an innovative client-side VTL script that places trades based on market direction at specific trading session. It is based on range of the High and Low of the previous bar and two bars ago.

The concept behind this Auto Trader  is that when the weighted range of the previous bar and two bars ago is above a specific threshold a BUY or SELL signal is generated which indicates a breakout in the direction of the direction of the trade. By placing a tight stop-loss of a few pips, and trailing stop to trail profitable positions it maximizes its profits and minimizes losses. The Auto Trader evaluates entry and exit rules at close of each candle. 

ENTRY RULES –
1. All entry rules are evaluated at close of candle.
2. A trade can be opened only between 10am and 7pm. The Auto Trader does not open positions before 10am, or after 7pm.
3. If the calculated Weighted Quotient using x1, x2, x3 and x4 is greater than 0, and the time is between 10 am and 7pm, a BUY (LONG) trade is opened at market (Ask) price. The initial stop-loss is placed 'slb' points below the current Bid price. The Auto Trader can open a BUY (LONG) trade even if a BUY (LONG) trade is already open.
4. If the calculated Weighted Quotient using y1, y2, y3 and y4 is greater than 0, and the time is between 10am and 7pm, a SELL (SHORT) trade is opened at the market (Bid) price. The initial stop-loss is placed 'sls' points above the current Ask price. The Auto Trader can open a SELL (SHORT) trade even if a SELL (SHORT) trade is already open.
5.Multiple BUY (LONG) and SELL (SHORT) trades can exist. However, the Auto Trader can open at most one BUY (LONG) and one SELL (SHORT) trade on each candle.

EXIT RULES –
1. All exit and trailing stop-loss rules are evaluated at close of candle.
2. All open positions are closed after 7pm.
3. The initial stop-loss is set to slb points below the current Bid price for BUY (LONG) trades, and sls points above the current Ask price for SELL (SHORT) trades.
4 .A trailing stop of 2 x slb points is applied to BUY (LONG) trades, and 2 x sls points to SELL (SHORT) trades.

WEIGHTED QUOTIENT (BUY) FORMULA – The formula to calculate the Weighted Quotient for BUY trades is as follows: 

WQB = (x1 – 100) x ABS(High[1] – Low[2) + (x2 – 100) * ABS(High[3] – Low[2]) + (x3 – 100) x ABS(High[2] – Low[1]) + (x4 – 100) * ABS(High[2] – Low[3]) Condition: BUY (LONG) when WQB is greater than 0. WEIGHTED QUOTIENT (SELL) FORMULA – WQS = (y1 – 100) x ABS(High[1] – Low[2) + (y2 – 100) * ABS(High[3] – Low[2]) + (y3 – 100) x ABS(High[2] – Low[1]) + (y4 – 100) * ABS(High[2] – Low[3])

Configurable Inputs
1. daBUY – Specifies whether the Auto Trader can open and close BUY (LONG) trades. If this parameter is TRUE, the Auto Trader will open new BUY (LONG) trades, and close existing BUY (LONG) trades when the conditions are met. If this parameter is FALSE, trading of BUY (LONG) positions is disabled.
2. daSELL – Specifies whether the Auto Trader can open and close SELL (SHORT) trades. If this parameter is TRUE, the Auto Trader will open new SELL (SHORT) trades, and close existing SELL (SHORT) trades when the conditions are met. If this parameter is FALSE, trading of SELL (SHORT) positions is disabled.
3. x1 –The first weightage in percent applied to calculate BUY (LONG) trade signal.
4. x2 –The second weightage in percent applied to calculate BUY (LONG) trade signal.
5. x3 –The third weightage in percent applied to calculate BUY (LONG) trade signal.
6. x4 –The fourth weightage in percent applied to calculate BUY (LONG) trade signal.
7. slb – The distance in points below the current Bid price where the initial stop-loss of the BUY (LONG) trades will be placed.
8. y1 –The first weightage in percent applied to calculate SELL (SHORT) trade signal.
9. y2 –The second weightage in percent applied to calculate SELL (SHORT) trade signal.
10. y3 –The third weightage in percent applied to calculate SELL (SHORT) trade signal.
11. y4 –The fourth weightage in percent applied to calculate SELL (SHORT) trade signal.
12. sls– The distance in points above the current Ask price where the initial stop-loss of the SELL (SHORT) trades will be placed.

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:\ProgramData\VertexFX Client Terminals\"Company name"\VTL10\Local VTL Scripts
  • Restart your Client Terminal or Right Click on "Local VTL Scripts" Tree Node to find the script.

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23 June 2016
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