Thread: Trigger lines 2 - Vertex FX Indicator

Trigger lines 2 is a powerful Vertex FX client side indicator script that provides precise entry and exit signals based on market cycles. The concept behind this indicator is to identify market cycles based upon a combination of the Linear Weighted Moving Average (LWMA) and Least Squares Moving Average (LSMA).
In the first step, we calculate the Linear Weighted Moving Average (LWMA) of the Open prices over the recent R_PERIOD bars. In the next step, we calculate the Least Squares Moving Average (LSMA) of the LWMA calculated in the previous step, and apply a smoothing co-efficient that is equal to the reciprocal of the LSMA PERIOD. Ideally, the LSMA_PERIOD should be less than the R_PERIOD.
The logic is that the LWMA identifies and main trend if it is sustained over the R_PERIOD bars. The LSMA identifies the market cycles if it is detected with the LSMA PERIOD. So, when the cross-over of the LWMA and the LSMA occurs, a signal is generated.
BUY - Enter BUY trade when both indicator lines are BLUE. Do not open BUY trade if candle has gap-up opening. Place stop-loss below the nearest swing Low.
SELL - Enter SELL trade when both indicator lines are RED. Do not open SELL trade if candle has gap-down opening. Place stop-loss above the nearest swing High.