The "Vortex [GOODY]" indicator introduces a novel approach to trend, enhancing the traditional Vortex Indicator (VI) by integrating a dynamic trend direction line, customizable trend exhaustion alerts, and improved visual clarity with additional features to aid in identifying not just the trend's direction but also its sustainability.
Key Features: • Enhanced Trend Direction Line: Beyond the standard VI+ and VI- calculations, our indicator plots a trend direction line that averages these values, offering a clear visual cue of the market's overall direction. This line's color adapts based on the trend's strength and potential exhaustion, providing immediate insight into market sentiment. • Customizable Trend Exhaustion Level: With the user-defined viExhaustionLevel, traders can set their thresholds for what they consider to be an overextended trend, adding a strategic layer to their analysis. This feature aims to signal when a trend might be reaching a point of reversal or slowdown, offering an opportunity for preemptive strategy adjustment. • Trend Signal Alerts: Automated alert conditions for uptrend and downtrend signals facilitate timely decision-making. Traders can configure alerts to notify them of significant crossovers in VI+ and VI-, ensuring they don't miss critical market movements. • User-friendly Interface: The option to toggle the trend direction line on or off caters to diverse analysis preferences, ensuring that the chart remains as streamlined or detailed as the user desires. • Visual Enhancements: Background color coding and horizontal reference lines improve the indicator's usability, making it easier for traders to interpret the data at a glance.
Practical Applications: • Trend Following: Ideal for traders who specialize in trend-following strategies, providing early signals of trend formation and potential exhaustion. • Risk Management: By identifying potential trend reversals, traders can make informed decisions about entry and exit points, improving their risk management. • Market Analysis: Offers a comprehensive overview of market dynamics, aiding in the analysis of various assets across timeframes.
Nota Keluaran
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Release Notes: The Vortex Directional Strength indicator combines the traditional Vortex Indicator with an enhanced Directional Strength gauge and an informative table. This tool helps traders assess the strength and direction of the trend, providing clear visual cues through colors, percentages, and directional arrows. Here's a detailed explanation of what each component and its colors, values, and arrows represent.
Vortex Indicator
The Vortex Indicator is a momentum indicator used to identify the start of a new trend and its direction. It consists of two lines: • Smooth VI+ (green line): Indicates positive trend strength. • Smooth VI- (red line): Indicates negative trend strength.
The crossing of these lines signals potential trend changes: • Uptrend Signal: When the Smooth VI+ crosses above the Smooth VI-. • Downtrend Signal: When the Smooth VI- crosses above the Smooth VI+.
Trend Direction Line • Color: • Blue: Indicates the trend is bullish. • Red: Indicates the trend is bearish. • Orange: Indicates trend exhaustion, where either VI+ or VI- exceeds the exhaustion level (1.20 by default).
Directional Strength Table
The table displays key information about the current trend, including the trend strength, current trend direction, and the direction of bull and bear movements. 1. Trend Strength: • Extremely Weak: Trend strength value < 5 (Dark purple with 80% opacity). • Very Weak: Trend strength value between 5 and 10 (Dark purple with 65% opacity). • Weak: Trend strength value between 10 and 20 (Dark purple with 50% opacity). • Moderate: Trend strength value between 20 and 30 (Dark purple with 35% opacity). • Strong: Trend strength value between 30 and 40 (Dark purple with 20% opacity). • Very Strong: Trend strength value between 40 and 50 (Dark purple with 10% opacity). • Extremely Strong: Trend strength value >= 50 (Solid dark purple).
2. Current Trend: • Bullish: If the Bull Direction is stronger than the Bear Direction. • Bearish: If the Bear Direction is stronger than the Bull Direction.
3. Bull Direction: • Arrow Up (🡅): Indicates an increase in the Bull Direction compared to the previous bar. • Arrow Down (🡇): Indicates a decrease in the Bull Direction compared to the previous bar. • Color: Adjusted based on the current trend: • Green (High Opacity): If the trend is bullish. • Light Green (Low Opacity): If the trend is bearish.
4. Bear Direction: • Arrow Up (🡅): Indicates an increase in the Bear Direction compared to the previous bar. • Arrow Down (🡇): Indicates a decrease in the Bear Direction compared to the previous bar. • Color: Adjusted based on the current trend: • Red (High Opacity): If the trend is bearish. • Light Red (Low Opacity): If the trend is bullish.
Directional Strength Gauge The gauge provides a visual representation of the trend strength, scaled by a user-defined multiplier.
1. Gauge Cells: • Color Gradient: The gauge uses a color gradient from green to red to indicate the strength of the trend: • Green to Dark Green: Indicates increasing trend strength. • Red to Dark Red: Indicates decreasing trend strength.
2. Needle: • Percentage: Displays the trend strength as a percentage. This value is calculated based on the trend strength formula, multiplied by the user-defined gauge multiplier. • Directional Arrow: • Arrow Up (▲): Indicates that the trend strength is increasing compared to the previous value. • Arrow Down (▼): Indicates that the trend strength is decreasing compared to the previous value. • Color: Indicates the trend direction: • Green: If the Bull Direction is stronger than the Bear Direction. • Red: If the Bear Direction is stronger than the Bull Direction.
How to Use the Indicator 1. Trend Identification: Use the Smooth VI+ and VI- lines to identify potential trend changes based on their crossovers. 2. Trend Strength Assessment: Refer to the "Trend Strength" in the table to gauge how strong the current trend is. 3. Current Trend Direction: Check the "Current Trend" in the table to determine if the trend is bullish or bearish. 4. Bull and Bear Direction Arrows: Use the arrows to understand the direction of bull and bear movements. The color opacity provides additional context based on the current trend. 5. Gauge Interpretation: Look at the gauge to quickly assess the trend strength percentage and its recent movement (indicated by the directional arrow).