Vortex Indicator with Thresholds Defined
A problem I noticed with the built in Vortex indicator was that it didn't include any defined thresholds that are important to understanding how to read the vortex indicator. So I modified the vortex indicator in order to have the thresholds built in so you don't have to draw horizontal lines on your chart.
//Vortex indicator with defined thresholds created by Rashad study(title = "Vortex Indicator With Thresholds defined", shorttitle="VI") period_ = input(7, title="Period", minval=1) VMP = sum( abs( high - low[1]), period_ ) VMM = sum( abs( low - high[1]), period_ ) STR = sum( atr(1), period_ ) VIP = VMP / STR VIM = VMM / STR plot( VIP, title="VI +", color=fuchsia, linewidth=2) plot( VIM, title="VI -", color=aqua, linewidth=2) bandy1 = hline(1, color=gray, linestyle=dashed) bandy2 = hline(0.9, color=orange, linestyle=dashed) bandy3 = hline(1.1, color=orange, linestyle=dashed) bandy4 = hline(1.3, color=red, linestyle=dashed) bandy5 = hline(0.7, color=red, linestyle =dashed)