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Thread: Candles Indicators for vertex FX

  1. #1
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    Candles Indicators for vertex FX

    dynamo - First and lasp post every thread AXITrader aff
    Candles Indicators for vertex FX
    Hi,

    We have converted an Candle Indicators in to a .VTL file which is compitable with VertexFX. Candle Indicators works with following three indicators..

    RSI :-
    A technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset. It is calculated using the following formula:

    RSI = 100 - 100/(1 + RS*)

    *Where RS = Average of x days' up closes / Average of x days' down closes.

    As you can see from the chart, the RSI ranges from 0 to 100. An asset is deemed to be overbought once the RSI approaches the 70 level, meaning that it may be getting overvalued and is a good candidate for a pullback.
    Likewise, if the RSI approaches 30, it is an indication that the asset may be getting oversold and therefore likely
    to become undervalued. This will give the change in price with the relative prices of the instrument in previous timings
    The overbought will give a sell signal and the oversold will give a buy signal

    CCI :-

    Cumulative channel Index is relative to the price changes to its average.
    CCI is relatively high when prices are far above their average. CCI is relatively low when prices are far below their average. In this manner, CCI can be used to identify overbought and oversold levels. and by that you can get the corresponding sell and buy signals of a specific instrument

    ROC :-

    A technical indicator that measures the percentage change between the most recent price and the price "n" periods in the past. It is calculated by using the following formula:

    (Closing Price Today - Closing Price "n" Periods Ago) / Closing Price "n" Periods Ago
    The ROC increases along with the prices up trending and it decreases when the prices go down. High prices changing give the according significant ROC changing. This will give the buy signal in uptrending and sell signal in down trending.


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  2. Under 1st Post -dynamo
  3. #2
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    But, I do candlesticks trading manually. I spent my whole demo trading life to learn principle of candlesticks trading. I think in Forex ground candlesticks trading is much reliable from indicator based trading. Though in very first time I became busy with indicators based trading and obviously a loser. Then, I found special training course of TradingBanks broker where I learned every pattern and formation of candlesticks trading. I definitely believe for a candlestick based Forex trader donít need to depend on others.

  4. #3
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    We need to use indicator that we are comfortable with because thatís how we will be able to extract profits. I am able to figure out it with rather ease and comfort thatís with OctaFX broker and their marvelous demo contests like cTrader and Champion since we are able to win huge prizes and also get experience, so all this works well. I feel really comfortable and also help me enhance my work and strategy in every way to keep us comfortable.

  5. #4
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    Trying new indicator for demo and learning purpose is also a good way to enhance your strategy.
    It is not a bad idea to test new indicators to improve your trading.

  6. #5
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    Whatever indicator we intent to use must be done wisely, as random using of indicators are not going to work in anyoneís favor, therefore it is better to work it out carefully. I find it relatively easy with broker like OctaFX since they got superb educational guide which is very much straight forward plus have demo contests like cTrader and Champion through which one can work these things out and even top it up with winning prizes to help further.

  7. #6
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    box - einstein 250x250
    Quote Originally Posted by Colonel Lucas View Post
    Whatever indicator we intent to use must be done wisely, as random using of indicators are not going to work in anyoneís favor, therefore it is better to work it out carefully. I find it relatively easy with broker like OctaFX since they got superb educational guide which is very much straight forward plus have demo contests like cTrader and Champion through which one can work these things out and even top it up with winning prizes to help further.
    The right indicator must be used in the proper way so that we can get profitable trade from it. And for that, we need the mind which can think and analysis, not a broker which can only support you from a platform.

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