Thread: MBKA - Vertex FX Indicator

MBKA is a powerful VertexFX client side VTL indicator that gives excellent entry and exit signals.
It is based on a composite of three Williams %R (WPR) indicators with different periods and weightages. The WPR (Williams %R) is a powerful indicator that can identify trends very quickly and precisely. This indicator uses three Williams %R indicators so that the results are smoothed and confirmed by more than on WPR.
In the first step, we calculate the three WPRs based on WPR_LENGTH_1, WPR_LENGTH_2 and WPR_LENGTH_3. In the next step we calculate the weighted WPR from these three WPRs. Each WPR is subtracted from 100, and then its weight W1, W2 and W3 multiplied respectively.
The sum of these three weighted WPRs is calculated and divided by the sum of W1, W2 and W3. This is the composite WPR.
When the composite WPR is above the sum of 67 and RISK, an uptrend is active. When the composite WPR is below the difference of 33 and RISK, a downtrend is active.
When the composite WPR transit from downtrend (or neutral) to uptrend, a BUY signal is generated. Similarly when the composite WPR transit from an uptrend (or neutral) to downtrend, a SELL signal is generated.
BUY - Enter BUY position at close of candle when BUY arrow appears. Do not place BUY position if candle has gap-up opening. Stop loss can be placed below the nearest swing low.
SELL - Enter SELL position at close of candle when SELL arrow appears. Do not place SELL position if candle has gap-down opening. Stop loss can be placed above the nearest swing high.