Vortex Trend Indicator
Platform: MT5 Type: Trend Last update: November 23, 2024The Vortex Trend Indicator for MT5 provides ideas regarding trend, namely its power and direction. It presents generated signals in the form of colorful bricks reflecting market bias.
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 of vortex.
Example chart:
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.
Take a look how turning it off influences the readings. As you can see, they are not so clear.
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.
Submit your review | |
