William Vix-Fix - Vertex FX Indicator

[NCDindia]

The William Vix-Fix is a vertex FX indicator which was actually developed by Larry Williams, and is a powerful indicator that detects intermediate market tops and bottoms.

We first calculate the highest close of the most recent PERIOD candles. The William Vix-Fix is calculated by subtracting the current low from this value, and dividing this difference by the highest close of the most recent PERIOD candles. The value is multiplied by 100.

BUY - Enter BUY trade when a new swing low has been detected in the indicator. The most recent swing low to the left of the current swing low must be above the current swing low, otherwise the trade must be ignored. Stop Loss must be set to the nearest support level.

SELL - Enter SELL trade when a new swing high has been detected in the indicator. The most recent swing high to the left of the current swing high must be below the current swing high, otherwise the trade must be ignored. Stop Loss must be set to the nearest resistance level.