OPEN-SOURCE SCRIPT
F.B_Vortex Indicator Pro
The "F.B_Vortex Indicator Pro" is a technical analysis tool designed to identify trends in financial markets. It calculates two Vortex Indicators (VI) based on price movements, considering positive and negative price changes.
The [1] smoothed VI+ line represents the smoothed negative trend, while the [2] smoothed VI+ line represents the smoothed positive trend.
The crossing of the [2] smoothed VI+ line above the [1] smoothed VI+ line could indicate a potential bullish trend.
Conversely, the crossing of the [1] smoothed VI+ line above the [2] smoothed VI+ line suggests a possible bearish trend.
The "Smoothed VI-" line is also displayed.
When the Smoothed VI- line is above both the [1] smoothed VI+ line and the [2] smoothed VI+ line, it may signal a transition to a bearish main trend or indicate an expected one.
When the Smoothed VI- line is below both the [1] smoothed VI+ line and the [2] smoothed VI+ line, it may indicate a transition to a bullish main trend or suggest an expected one.
Adjustments can be made using input parameters such as length and smoothing periods to tailor the indicator to specific market conditions.
The [1] smoothed VI+ line represents the smoothed negative trend, while the [2] smoothed VI+ line represents the smoothed positive trend.
The crossing of the [2] smoothed VI+ line above the [1] smoothed VI+ line could indicate a potential bullish trend.
Conversely, the crossing of the [1] smoothed VI+ line above the [2] smoothed VI+ line suggests a possible bearish trend.
The "Smoothed VI-" line is also displayed.
When the Smoothed VI- line is above both the [1] smoothed VI+ line and the [2] smoothed VI+ line, it may signal a transition to a bearish main trend or indicate an expected one.
When the Smoothed VI- line is below both the [1] smoothed VI+ line and the [2] smoothed VI+ line, it may indicate a transition to a bullish main trend or suggest an expected one.
Adjustments can be made using input parameters such as length and smoothing periods to tailor the indicator to specific market conditions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.