OPEN-SOURCE SCRIPT
AIR Vortex ADX
Updated
This project started as an effort to improve the user interface of the hybrid indicator ADX of Vortex, which is, as per the name, a blend of ADX and Vortex Indicator. Plotting both indicators on the same polarity and normalising the vortex, a better interpretation of the interaction between the two is possible, and trend becomes apparent.
Basically, the Vortex provides the bright punch and ADX the continuation of the trend and momentum.
A range mixer has been added to the vortex, comprising both true and interpercentile ranges (see my previous script for a desrciption of interpercentile range). Users can activate and add amounts of each as they see fit.
Finally, there is an RSI filter, the idea of which is to filter out ranging (flat) markets, where no distinct direction is yet emerging.
Basically, the Vortex provides the bright punch and ADX the continuation of the trend and momentum.
A range mixer has been added to the vortex, comprising both true and interpercentile ranges (see my previous script for a desrciption of interpercentile range). Users can activate and add amounts of each as they see fit.
Finally, there is an RSI filter, the idea of which is to filter out ranging (flat) markets, where no distinct direction is yet emerging.
Release Notes
IMPORTANT code improvements. Please ensure you update to this version.For simplicity and clarity, bar coloring conditions have been improved. I’ve also added triangle signals that indicate the beginning and end of a trend.
Release Notes
BUY/SELL Alerts added.7 exciting visual themes to choose from! Like these:
Release Notes
'Any alert' addedOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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