Introduction to the Vortex Trend Indicator
The Vortex Trend Indicator is a simple trend recognition tool. It’s based on the original Vortex indicator, but it has some modifications. The indicator shows a colorised diagram, to highlight the trend direction. The green color represents a bullish trend, whereas, the red color signals a bearish trend and finally the Gainsboro color portrays a sideways market. The “Use vortex smoothing” is an important variable. It can be set to ‘Yes’, for which it will then start to deliver less random signals. When compared to when it’s set to ‘No’, it begins to randomises that characteristics.
The Vortex Trend Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Vortex Trend indicator in MT5?
Download the Vortex Trend.rar archive at the bottom of this post, unpack it, then copy and paste the Vortex Trend.ex5 or Vortex Trend.mq5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Vortex Trend indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT5 Vortex Trend Indicator
To download the Vortex Trend Indicator for Metatrader 5 (MT5) for free just click the button below: