This project started as an effort to improve the user interface of the hybrid indicator ADX of Vortex, which is, as per the name, a blend of ADX and Vortex Indicator. Plotting both indicators on the same polarity and normalising the vortex, a better interpretation of the interaction between the two is possible, and trend becomes apparent.
Basically, the Vortex provides the bright punch and ADX the continuation of the trend and momentum.
A range mixer has been added to the vortex, comprising both true and interpercentile ranges (see my previous script for a desrciption of interpercentile range). Users can activate and add amounts of each as they see fit.
Finally, there is an RSI filter, the idea of which is to filter out ranging (flat) markets, where no distinct direction is yet emerging.
Release Notes
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IMPORTANT code improvements. Please ensure you update to this version.
For simplicity and clarity, bar coloring conditions have been improved. I’ve also added triangle signals that indicate the beginning and end of a trend.
Release Notes
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BUY/SELL Alerts added.
7 exciting visual themes to choose from! Like these:
@alphaXiom, thank you very very much for your indicator. This Vortex is new concept to me, and i found it really interesting and useful! God bless you!
subinoy1984
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What about downtrend ? Share image with arrow sign of entry & exit.
alphaXiom
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@subinoy1984, Hi. Here's an 7-8% (so far) short on Apple over the last week; an explanation of the move included. Once again, I'm using volume and a fair bit of Wyckoff. I'm also fond of the dark art of Fib Channels available on the left menu of TV. Regards
congrats on the indicator!! It looks sensational, but I'm still in doubt as how it works. Can you explain me more?
alphaXiom
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@krishina, Thanks. Here's a recent technical bounce in GOLD that I've marked up. I've used my other indicator AIR Supertrend in conjunction with volume to illustrate the move. The settings are default. My volume MA is set to 9.
alphaXiom
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@krishina, An update of AIR Vortex ADX is available, with improvements. Please, ensure you update your version. Regards