Skip to main content

i Intraday VertexFX Indicator

i-IntradayFibonacci is a powerful VertexFX client side VTL indicator that displays the valid Fibonacci levels for the current day based on the previous day.

Fibonacci levels form important decision points for trading, as well as support and resistance levels.

A Fibonacci retracement is a popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in the 13th century.

In technical analysis, a Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels.

This indicator displays the 23.6%, 38.2%, 61.8% and the 76.4% Fibonacci levels based on the previous days range. The previous day's range (previous High minus previous Low) is calculated, and the various levels are added to the previous day's Low.


CYAN - 23.6% level from previous day's Low.
GREEN - 38.2% level from previous day's Low.
YELLOW - 61.2% level from previous day's Low.
BROWN - 76.4% from previous day's Low.

Ideally, when the price falls rises above the BROWN (76.4%) level a bullish breakout is expected and similarly, when the price falls below the CYAN (23.6%) level, a bearish breakout is expected.
This indicator can be used in conjunction with other indicators to confirm the direction of the trade.

NOTE - This indicator is applicable on H4 and lower chart time-frames. This indicator does not provide BUY or SELL signals.
https://www.hybrid-solutions.com/plugins/client-vtl-plugins/free/i-intraday-fibonacci-.html

Comments

Post a Comment

Popular posts from this blog

WPR+CCI Vertexfx Indicator

The WPR+CCI is a powerful VertexFX client-side indicator based on the Williams Percent Rank (WPR) and the Commodity Channel Index (CCI). The Williams Percent Rank indicator provides insights into the current price with respect to its historical highs and lows over the specified period. Lower values of WPR suggest bearish trend and higher values of WPR indicator bullish trend. The WPR is bounded between -100 and 0. The Commodity Channel Index (CCI) measures the price variations from its statistical mean. Traders use CCI to help identify price reversals, price extremes and trend strength. The CCI typically oscillates above and below a zero line. Normal oscillations will occur within the range of +100 and -100. Readings above +100 imply an overbought condition, while readings below -100 imply an oversold condition. The WPR+CCI indicator uses the WPR as the primary indicator and the CCI as the filter indicator. When the WPR is rising and the CCI is above +80 the WPR+CCI indicator turns BL...
Post a Comment
Read more

EurX VertexFX Indicator

The EURX indicator is a powerful VertexFx client-side indicator script that calculates the Euro Index in real-time. The Euro Index is a powerful macro-economic indicator that presents a composite view of the European currencies. It is calculated from five major European currencies, namely EURUSD, EURGBP, EURCHF, EURJPY and EURSEK (Swedish Krona).  The calculation of the Euro Index is as follows,  34.38805726 x Pow(EURUSD, 0.3155) x Pow(EURJPY, 0.1891) x Pow(EURGBP, 0.3056) x Pow(EURSEK, 0.0785) x Pow(EURCHF, 0.1113) where Pow(currency, exponent) is the exponent (power) of the currency value. The main Euro Index labeled EURX is plotted as a thick line. The indicator also plots two moving averages of the EURX, namely the short term and long term moving average. The periods of these averages can be configured and changed by modifying the SMA_PERIOD_SHORT and SMA_PERIOD_LONG respectively. The EURX depicts the strength of the Euro against the five major currencies, namely the US d...
Post a Comment
Read more

SVEStochastic RSI VertexFX Indicator

The SVEStochasticRSI is a powerful VertexFX client-side indicator that identifies market cycles and the strength of a trend. As the name implies, it is an enhancement of the Stochastic RSI and was originally created by Sylvain Vervoort. The main advantage over the traditional StochasticRSI is that the method of calculating the RSI in this indicator is more responsive to price changes. As a result the lag is minimal. In the first step we calculate the RSI using the enhanced SVE method. We use a smoothing co-efficient ALPHA, which is the square-root of the reciprocal period for calculating the RSI. The price changes used to calculate the normal RSI are multiplied by the smoothing co-efficient to derive the SVE RSI. In the next step we calculate the Stochastic value of this RSI which is called the SVEStochasticRSI. The advantage of applying the Stochastic indicator to the RSI is that is when the price starts trending the indicator starts moving upwards or downwards very quickly thereby h...
Post a Comment
Read more