J_TPO� VertexFX Indicator

[NCDindia]

J_TPO indicator is a VertexFX client side VTL oscillator where the calculation is based on the rate of change in price over the LENGTH bars, and is smoothed for elimination of lag.
In the first step, we calculate the rate of change based on the current price and the price LENGTH bars ago. In the next step, this rate of change is smoothed using polynomial co-efficient (polynomial squares fit). By doing this the indicator attempts to predict the rate of change for the next bar. Finally, one more level of smoothing is applied to generate the J_TPO oscillator.
It oscillates between -1 and +1. Falling values, or values below 0 imply bearishness, and rising values, and values above 0 imply bullishness.
USAGE - This indicator must be used as reference along with other trading indicators.
BUY ADVICE - Avoid BUY trades if J_TPO indicator value is below 0, or is falling.
SELL - ADVICE - Avoid SELL trades if J_TPO indicator value is above 0, or is rising.