Vortex Trend Indicator
MT5 Trend TradingFree DownloadThe Vortex Trend Indicator for MT5 is a simple trend recognition tool. Essentially it’s based on the original Vortex, but it has some modifications in terms of visual aspects. The signals are presented in a form of colorised diagram – in order to highlight the trend direction and market bias.
It’s dispayed within seperate window placed below the trading chart. Each brick corresponds to single candlestick. So the green suggests bullish momentum, red signals bearish scenario and gray means a market indecision. Behind the scenes, it operates on crossovers of two lines, just like in case of the traditional version.
When it comes to the settings, the “Use vortex smoothing” is an pretty important variable. It can be set to ‘Yes’, for which it will then start to deliver more smooth and less random signals. When compared to when it’s set to ‘No’, it begins to randomise that characteristics.
Practical application
We think that the best use of it is onboarding it as a technical analysis supplier or filter. When combined with some other indicator providing accurate entry points, it can serve as verification of trade direction. In the result, once can potentially reduce fakouts and improve success rate.
