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vStore   VTL Plugins Free iBands Price

iBands Price

iBands Price is a VertexFX client side VTL momentum oscillator. Its construction is different from usual momentum oscillators like RSI and stochastics. iBands is based on the price deviations from the moving average of price.

iBands oscillator oscillates between 0 and 100. Values above middle line 0.50 implies up trend and in a down trend the indicator remains below the middle line. Values above 0.75 are considered overbought and values below 0.25 are considered oversold. When the indicator shows oversold markets, wait for other indicators to confirm a price reversal and place open buy position. The indicator crossing the middle line, 0.50 level, can be used as a buy signal and crossing below the middle line can be used as a sell signal. But these signals must be confirmed by other indicators.

iBands indicator generates best signals when there is divergence between the indicator and price. When price makes new highs, but the indicator fails to rise to new highs, it is clear indication that trend is ending. When price makes new lows but the indicator begins to rise from lower levels, it is clear indication that down trend is ending.

iBands indicator has few parameters:
Bands Period determines the period for indicator calculation, default value is 20.
Bands shift decides the forward displacement of indicator values, 0 means no shifting.
Bands deviations the standard deviation to be used in measuring price deviations from the moving average.

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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28 April 2016
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