Thread: TD Points & Lines - VertexFX Indicator

TD Points & Lines is a powerful VertexFX client side VTL indicator that is based on Tom De-Marks support and resistance lines concepts. The support (RED) and resistance (BLUE) lines must be extended on the chart up to the current candle for identifying trading signals.
In the first step we calculate the Swing Highs and the Swing Lows starting from the recent candle to the oldest candle.
The support (RED) line is drawn from the most recent Swing Low to the nearest encountered Swing Low which is below the most recent Swing Low. As a result, the support line has an upwards direction. The resistance (RED) line is drawn from the most recent Swing High to the nearest encountered Swing High which is above the most recent Swing High.
The concept behind this indicator is that when the support trend line is broken, then it marks the beginning of a new downtrend, and hence a SELL position should be initiated. Similarly, when the resistance trend line is broken, it is considered as the beginning of a new uptrend, and hence a BUY position must be initiated.
BUY - Enter BUY trade when price crosses above the projection of the BLUE line on the current bar from below. Place stop-loss below the support trend line.
SELL - Enter SELL trade when price crosses below the projection of the RED line on the current bar from below. Place stop-loss above the resistance trend line.