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Traders' Tips from TASC Magazine
The Vortex Indicator

The article by Etienne Botes and Douglas Siepman in this issue, “The Vortex Indicator”, demonstrates another reliable technical indicator for trading a change in market direction. The vortex indicator was developed as a new directional movement indicator, drawing inspiration from J. Welles Wilder’s directional movement indicator, as well as another unrelated and improved directional indicator.

Using Indicator Builder, one needs to create two indicators: Vortex Indicator Plus and Vortex Indicator Minus.

Here is the Tradecision code for the Vortex Indicator Plus:

Vortex Indicator Plus:

input
 Length:"Length",14;
end_input

 var
 VMPlus:=0;
 VMPlusS:=0;
 VMTR:=0;
 VMTRS:=0;
 VIPlus:=0;
 end_var

 VMPlus:= Abs(High - Low\1\);
 VMPlusS:=CumSum(VMPlus,Length);

 VMTR:= Max(VMPlus, Abs(High - Close\1\), 
 Abs(Low - Close\1\));  VMTRS:=CumSum(VMTR,Length);

 VIPlus:= VMPlusS/VMTRS;

 return VIPlus;

Here is the Tradecision code for the Vortex Indicator Minus:

Vortex Indicator Minus:

input
 Length:"Length",14;
end_input

 var
 VMPlus:=0;
 VMMinus:=0;
 VMMinusS:=0;
 VMTR:=0;
 VMTRS:=0;
 VIMinus:=0;
 end_var

 VMPlus:= Abs(High - Low\1\);
 VMMinus:=Abs(Low - High\1\);
 VMMinusS:=CumSum(VMMinus,Length);

 VMTR:= Max(VMPlus, Abs(High - Close\1\), 
 Abs(Low - Close\1\));  VMTRS:=CumSum(VMTR,Length);

 VIMinus:= VMMinusS/VMTRS;

 return VIMinus;
 



Download to import into Tradecision.

How to use this indicator in Tradecision:
  1. Click Download.
  2. Save this indicator in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click Indicator Builder.
  4. In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
The indicator will be added to the Custom Indicators list.
 
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