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vStore   VTL Plugins Free Support and Resistance (Barry)

Support and Resistance (Barry)

suppoort

Support and Resistance (Barry) is a VertexFX client side VTL indicator based on the Fractal candles.

A Fractal High candle is a candle whose high has two lower Highs preceding it, and two lower Highs following it. Similarly a Fractal Low candle is a candle whose Low has two higher Lows preceding it, and two higher Lows following it. The Support level is a Fractal Low, whereas a Resistance level is Fractal High. The current Support level remains in place until a new Fractal Low is encountered. Likewise, the current Resistance level remains in place until a new Fractal High is encountered. The Support levels are displayed in BLUE dots, whereas Resistance levels are displayed in RED dots.

For Placing Stop-Losses:

BUY - For Buy positions, place stop loss just below the Support level.
SELL - For Sell positions, place stop loss just above the Resistance level.

For Trading:

BUY - Place Buy position, when price crosses above Resistance.
SELL - Place Sell position, when price crosses below Support

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:\Program Files\Company Name\vtl10\Local VTL Files\
  • Restart your Client Terminal or Right Click on "Local VTL Scripts" Tree Node to find the script.

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Listings details

Flat Monthly Fees
$0
Volume Monthly Fees
$0
Hits
2866
Rating
★★★★★
On
26 October 2015
Attachment (Desktop)
Compatibility
Reviews (1)
bybasit khan

June 22, 2018

very good indicator

Review»

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