Support Resist Trading Expert Advisor for Vertex FX trading system

omsaitech555

Active Trader
Oct 15, 2015
24
1
39
Support Resist Trade is a very powerful VTL Expert Advisor for Vertex FX. The EA does a

simple analysis of the market before opening/closing a position, it determines the levels

of support/resistance and the direction of the trend (bullish/bearish) with the help of

Moving Average. The EA identify the trend and then place the order and then close it as per

the values set in to the parameters of the EA.
After applying the EA; support/resistance levels are drawn by the last values of parameter

numBars. The trend is identified with the help of Moving Average indicator, Moving Average

period is set by the maPeriod parameter
If the price is above the Moving Average then the trend is bearish, if it is below the MA

then the trend is bullish.
Buy Order : If the trend is bullish then the buy position is opened at the break through of

the resistance level.
Sell Order: If the trend is bearish then the sell position is opened at the break through

of the support level.
The closing of the position is performed by Stop Loss that is placed either by the support

level (if a long position is opened), or by the resistance level (if a short position is

opened). The closing of the position can be performed by the break through of the support

level as well (if an opened position is opened and this position is at a lossless region)

or by the break through of the resistance level (if a short position is opened and this

position is at the lossless region). A primitive TrailingStop with the levels of 10, 20 and

30 points is used in the EA.
Configurable Parameters:
1. numBars - the number of bars that are used for drawing of the support/resistance levels.
2. maPeriod - the period of the Moving Avarage.
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