The Vortex Indicator for MT5 provides forex traders with information about the direction and strength of a trend, as well as BUY and SELL trading signals. The indicator has two simple lines that fluctuate; traders use these lines to determine the start of a new trend and the best reversal points. The indicator is very useful for intraday and trend traders and can be easily incorporated into various trading methods.
Vortex Indicator Trading Signals
The above EURUSD H1 chart shows the Vortex indicator for MT5. The indicator has two lines. The V+ line is an uptrend line and the V- line is a downtrend line. The Vortex indicator displays an uptrend line (V+) in BLUE and a downtrend line (V-) in RED.
Forex traders can apply the Vortex Indicator for MT5 to any timeframe and any trading instrument and it is free to download.
Trading signals of the Vortex indicator are primarily based on line crossings. Thus, Forex traders can BUY if the BLUE line crosses the RED line in an upward direction. On the contrary, traders can SELL when the RED line and the BLUE line cross in the downward direction. Traders can hold a position and exit on opposite trading signals.
Vortex Indicator For Trend Trading
FX technical traders can easily establish the trend direction by the color on the top side of the indicator. If the BLUE line is on the top side, it indicates the presence of BUY Trend; on the other hand, the presence of RED color line on the top indicates a SELL trend. The visual clues of the trend direction are straightforward and help the technical FX trader follow the trend and stay in the trend direction.
Another important aspect of the Vortex Metatrader 5 indicator is to provide forex traders with Trend Strength. The deviation of the indicator lines from each other shows the strength of the trend. Also, the distance of the indicator line from the midpoints effectively shows the strength of the trend. If the indicator line moves away from the trend, forex traders consider it a strong move. On the other hand, a slight deviation between the indicator lines indicates a weak trend.
New forex traders can benefit from identifying the start of a new trend and be able to spot early pivot points. On the other hand, advanced traders can change the indicator settings and reduce trading signals to avoid trading with lower trend signals. However, traders should be aware that higher indicator settings may give delayed signals. Moreover, each currency pair will respond to different settings, so advanced forex traders must determine the best settings for each trading instrument.
Conclusion
The Vortex MT5 indicator is the best trend indicator for intraday and long term traders. Because, the indicator covers all aspects of the trend, namely trend direction and trend strength. Moreover, the crossover of the lines provides trend trading signals. Furthermore, the indicator is free to download.
