FXCodeBase.COM: Forex Chart Indicators and Development

VORTEX INDICATOR

Posting a new Vortex Indicator. 'kingscorpion' has requested this indicator to be developed for marketscope, and short description was inserted here from his original request.

Information on this indicator can be found here:http://www.traders.com/Reprints/PDF_reprints/VFX_VORTEX.PDF



Vortex Indicator
by kingscorpion

Vortex, developed by Etienne Botes & Douglas Siepman of http://www.VortexFund.com, uses the relationship between today's high and yesterday's low for VM+ (similar to DMI+) and today's low and yesterday's high for VM- (similar to DMI-). The indicator plots only two line.

The first calculation is for the positive trending vortex movement VM+:
= ABS(Today's High - Yesterday's Low)

Next, calculate the negative trending vortex movement –VM. The formula is:
=ABS(Today's Low - Yesterday's High)

A 14-period sum of both VM+ and VM- is calculated.

Next, we calculate the true range (TR) and need to get the sum of the last 14 periods’ true range.

Finally, we need to calculate the ratio of each 14 period VM+ and 14 period VM- to the sum of the last 14 days’ daily true ranges.

And now the two ratios are drawn for the Vortex Indicator.

-kingscorpion

Code: Select all

-- Indicator profile initialization routine
function Init()
    indicator:name("The Vortext Indicator");
    indicator:description("The indicator was described in Jan, 10 issue of the 'Stock and Commodites' Magazin");
    indicator:requiredSource(core.Bar);
    indicator:type(core.Oscillator);

    indicator.parameters:addInteger("N", "Length of the vortex", "No description", 14);
    indicator.parameters:addColor("VIP_color", "Color of VI+", "Color of VI+", core.rgb(0, 255, 0));
    indicator.parameters:addColor("VIM_color", "Color of VI-", "Color of VI-", core.rgb(255, 0, 0));
end

-- Indicator instance initialization routine
-- Processes indicator parameters and creates output streams
local N;

local first;
local source = nil;

-- Streams block
local VIP = nil;
local VIM = nil;
local iVIP = nil;
local iVIN = nil;
local iATR = nil;

-- Routine
function Prepare()
    N = instance.parameters.N;
    source = instance.source;
    iATR = core.indicators:create("ATR", instance.source, 1);
 
    first = iATR.DATA:first() + N;

    local name = profile:id() .. "(" .. source:name() .. ", " .. N .. ")";
    instance:name(name);
    VIP = instance:addStream("VIP", core.Line, name .. ".VI+", "VI+", instance.parameters.VIP_color, first);
    VIM = instance:addStream("VIM", core.Line, name .. ".VI-", "VI-", instance.parameters.VIM_color, first);

    iVIP = instance:addInternalStream(1, 0);
    iVIM = instance:addInternalStream(1, 0);
end

-- Indicator calculation routine
function Update(period, mode)
    iATR:update(mode);
    if period >= 1 then
        iVIP[period] = math.abs(source.high[period] - source.low[period - 1]);
        iVIM[period] = math.abs(source.low[period] - source.high[period - 1]);
    end
    if period >= first then
        local svip, svim, satr;
        local range;
        range = core.rangeTo(period, N);
        svip = core.sum(iVIP, range);
        svim = core.sum(iVIM, range);
        satr = core.sum(iATR.DATA, range);

        VIP[period] = svip / satr * 100;
        VIM[period] = svim / satr * 100;
    end
end


MT4/MQ4 Version.
viewtopic.php?f=38&t=64350

Can someone please develop a signal with sound for this indicator, thank you in advance


Jason

Requested can be found here.
viewtopic.php?f=31&t=6571

Vortex Difference indicator. Plots the VI+ - VI-

MQ4/MT4 version.
viewtopic.php?f=38&t=64349


MQ4/MT4 version.
viewtopic.php?f=38&t=64362

nicely done gentlemen, thank you!


In reference to heat maps, is it possible to create a Multi Currency Pair, MTF heatmap?

Thanks again for your efforts, nice work!


sjc

Yes it is possible

Can you please make the MTF_MCP_Vortex_List to display the actual values (in green for + or Red for -)? This will make it much more usefull to understand the strength of the Vortex.

Thank you in advance!

Indicator will show +/- Vortex Values for all currency pairs available, for all time frame selected.