The Vortex Indicator for MT4 delivers insights to forex traders about the price movement and direction, strength, buying and selling signals. The indicator is easy to use and only has 2 oscillating lines. These lines are further used by traders to define a new trend or the possibility of a reversal in the market. Intraday traders and trend traders can benefit from this tool by combining it with multiple strategies.
FX Vortex Indicator Free Download
How to use Vortex indicator?
Vortex indicator can be used as trend metric indicator where the when green and red line in oscillator are close to each other we have range trend while when the red and green line is in the opposite direction we have a strong bullish or bearish trend.
In a EURUSD Daily chart, the indicator will display 2 lines. The V+ line will symbolize the uptrend while the V- line symbolizes the downtrend line. The V+ line is seen in dodgerblue color while the V- line is present in tomato shade. This indicator can be used in any time frame and is free to download.
This indicator primarily works on the intersection of lines. Hence, if the dodgerblue lie intersects the tomato line in the upward direction, the traders should take a buying position. You should sell when the tomato line crosses the dodgerblue line in the downward direction. Traders should exit or hold their positions in case of opposing trading signals.
Find trends with the Vortex indicator
If the fx technical traders monitor the colors on the indicator’s top, they can determine the direction of the trend easily. If there is the presence of dodgerblue on the top, it is a sign of a buying trend, while a tomato color represents a selling trend. These signals are easy to interpret and help the fx traders to stay up to date with the market.
Another crucial component of the Vortex MetaTrader is to determine the strength of the trend in the market. It uses the distance of the indicator line from the midpoints to find accurate answers. If this line is very far from the trend, it is a strong move for the forex traders, while a small movement is not very significant.
New traders in the market can reap benefits by finding the start of a new trend and determining the possible reversal points. While experienced traders can benefit by using this indicator to prevent trading in lower trend signals. In addition, traders should keep in mind that setting high values also creates delayed signals. Different currency pairs also respond to different settings. Hence, it is important that forex traders find suitable settings.
The vortex indicator is suitable for intraday and long-term traders. It helps to cover most aspects of a trading session. The intersection of lines gives clear signals and this tool is also free to download.