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Tango

Tango indicator is a powerful VertexFX client-side indicator that gives precise Buy and Sell signals based on that it gives precise and accurate entry and exit signals in cyclical markets.

Tango indicator is based on the convergence and divergence between the indicator RSI (using closing prices) and the closing price.

Method of calculation and construction of the indicator:
First we calculate the value of divergence or convergence between the RSI and the closing price. Then, we find the maximum (MAX) and minimum (MIN) value of the RSI (Search is made to the point of convergence or divergence),
- if RSI more or equal than MAX-((MAX-MIN) / 100) * POROG, then it is a signal to buy and at the price chart will show green arrow;
- if RSI less or equal than MIN + ((MAX-MIN) / 100) * POROG, than it is a signal to sell and at the price chart will show red arrow;
- if RSI more than MIN + ((MAX-MIN) / 100) * POROG and RSI less than MAX-((MAX-MIN) / 100) * POROG, then draws a yellow square, in which case you can close the current transaction and wait for a new signal.

- Place Buy position at close of candle when the indicator is Green. Do not open buy trade if the candle has a gap up opening. Place stop-loss below the nearest swing low.
- Place Sell position at close of candle when the indicator is Red. Do not open sell trade if the candle has a gap down opening. Place stop-loss above the nearest swing high.
- Close the current transaction and wait for a new signal when the indicator is Yellow.

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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12 October 2016
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Download Tango.vtl (826 views)

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Disclaimer: Hybrid Solutions is the VertexFX trading platform vendor, provides technology only for the financial institutes and does not have any intervention in any financial role or in the trading cycle. Hybrid Solutions clears its responsibility from any financial institute's behavior. Choose your broker wisely and seek independent advice if necessary.

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