Found this indicator in the Kevin archive. Interesting combination of 2 indicators : a digital stochastic and a “vortex” indicator which is quite similar to a Wilder’s DMI which tell you the current price direction and where it is expected to continue. As for the digital stochastic, it is likely to show where the price is too far from its mean and would return to the opposite side.

So if the “vortex +” is above the “vortex -“, the digital stochastic should give a long trade signal if it crosses the -0.7 “oversold” level. And the opposite conditions for a short trade signal. 

///////////////digital stochastic

c1 = highest[14](high)
c2 = lowest[14](low)
fastk = ((close - c2) / (c1 - c2) ) * 100
slowk = average[3](fastk)

if (22* slowk + 8* fastk) / 30 > 50 THEN
 sum = 1
else
 sum= -1
endif

d1 = exponentialaverage[5](sum)

if d1 > d1[1] then
 e=d1
 f=1
endif

if d1<d1[1]then
 e=d1
 f=-1
endif

/////////VORTEX MM type
////////////////////////////////////////
//variable p=péride --par défaut 14
//variable t = MMtype --par défaut simple (Original)
p = 14
t=1
VP=abs(high -low[1])
VM=ABS(low-high[1])
VPS=average[p,t](VP)
VMS=average[p,t](VM)
VTR=TR(close)
VTRS=Average[p,t](vtr)
if VTRS <>0 then

 VORP=VPS/VTRS
 VORM=VMS/VTRS

endif

/////////////////////////////////////////////////////////////////////////////////

return e coloured by f as "digitale stochastic",0 AS "Zero",0.7 AS "Upper Zone",-0.7 AS "Lower Zone",VORP as "Vortex+",VORM as "Vortex-"