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

CCI Filter VertexFX Indicator

CCI Filter indicator is VertexFX client-side indicator script based on the Commodity Channel Index -CCI and Moving Average methods. The Commodity Channel Index (CCI) is a powerful indicator that provides important information on the trend. It is cyclical in nature and follows price closely. When the CCI has bottomed out below zero and is rising gradually, it implies that the market is rising and bullish. On the contrary, when the CCI has peaked and is falling gradually, it implies that the market is falling and bearish in nature. This is combined with the Moving Average of the Commodity Channel Index (CCI) which provides crossover signals. To calculate the CCI_Filter indicator, we first calculate the Commodity Channel Index (CCI) over the recent CCI_PERIOD bars. The CCI PRICE specifies the price field to be used to calculate the CCI indicator. This is the BLUE component of the indicator. In the next step, we calculate the Moving Average of the CCI over the recent MA_PERIOD bars. T...
Post a Comment
Read more

Follow Line VertexFX Indcator

FollowLine is a powerful VertexFX indicator based on the Bollinger Bands (BB) indicator. The Bollinger Bands indicator is a powerful indicator to identify trading ranges. However it cannot identify how far the trend will continue, or when the trend will reverse. The FollowLine indicator employs a combination of Bollinger Bands, Moving Average and Average True Range to identify start and reversal of trend with minimal lag. The FollowLine indicator generates BUY and SELL arrows when the trade setups identified. Likewise, when the trend turns bullish the indicator is displayed in BLUE, and when bearish the indicator is displayed in RED. In the first step, we calculate the upper and lower Bollinger Bands using the BB_PERIOD and BB_DEVIATION parameters. We filter for condition when the price closes above the upper Bollinger Band, or below the lower Bollinger Band. If USE_ATR_FILTER is set to true then the ATR value is added to the upper Bollinger Band, or subtracted from the lower Bollinge...
Post a Comment
Read more