ADX Trend signal indicator analyzes the values of three ADX indicators and sets signal pointers.
There are seven configurable parameters:
- First ADX period - first ADX calculation period
- Second ADX period - second ADX calculation period
- Third ADX period - third ADX calculation period
- Lelel 1 - first ADX threshold level
- Level 2 - second ADX threshold level
- Applied price
- Signal point anchor - signal pointers' anchor point
- High/Low - by High/Low signal levels
- Open - by Open prices of signal colors
Signal pointers are set if:
ADX1_1 < ADX1_0 и ADX2_1 < ADX2_0 и ADX3_1 < ADX3_0 и ADX1_0 > Lelel 1 и ADX2_0 > Level 2
- If DMI > 0, bearish (red) signal pointer is set
- If DMI < 0, bullish (green) signal pointer is set
where:
ADX1_1, ADX1_0 - ADX(First ADX period, MAIN_LINE) on bar 1 and 0
ADX2_1, ADX2_0 - ADX(Second ADX period, MAIN_LINE) on bar 1 and 0
ADX3_1, ADX3_0 - ADX(Third ADX period, MAIN_LINE) on bar 1 and 0
DMI = PDI - MDI
PDI = ADX(First ADX period, PLUSDI_LINE)
MDI = ADX(First ADX period, MINUSDI_LINE)
Fig. 1. ADX Trend, pointers to High/Low
Fig. 2. ADX Trend, pointers to Open
