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 ΠΈ ADX2_1 < ADX2_0 ΠΈ ADX3_1 < ADX3_0 ΠΈ ADX1_0 > Lelel 1 ΠΈ 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)Β 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)Β 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
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