The Vortex MT4 indicator provides two important details required for a forex trend trader. This oscillator provides the trend direction and its strength. It resembles the classic ADX MT4 indicator. However, it provides more reliable technical analysis than the ADX. As an oscillator the indicator works on all chart time frames and performs its best using a multi time frame trading strategy.
Features of Vortex MT4 Indicator
The oscillator features two indicator lines, the Plus VI in blue and Minus VI in red plotted on a separate indicator window. The crossover of these lines indicates a bullish or bearish market conditions and warrants a trade.
If the blue line / Plus VI line crosses the red line / Minus VI line upwards it is a bullish trading signal. Similarly, if the blue line crosses the red line downwards it indicates bearish trading signal.
Another important feature of this indicator is to measure the trend strength. If the indicator lines deviate far from each other it indicates a stronger trend, while they tend to be close to each other in a weaker trend.
Benefits of Vortex MT4 Indicator
Most trend indicators provide information about the trend direction. It is upon the trader’s discretion to use additional technical analysis for identification of the momentum or trend strength. However, the Vortex MetaTrader indicator provides both the trend direction and strength.
If the trader identifies the trend is weakening, it enables the trader to plan alternate trading strategy. Or look for reversal trade setup. In fact this helps the trader to exit a profitable trade with a decent reward. Without giving back all the gains to the market.
Moreover, it works on all chart time frames and helps all types of forex traders and is suitable for new and advanced forex traders.
Indicator Settings Description
VI_Length: A higher value provide fewer, long-term trading signals.
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