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Modification of a custom indicator.
This indicator was posted on another group board. It's takes the ADX indicator and shows it as bars on the main chart that change colors when DI+ and DI- lines cross (screenshot posted). Very good idea, however it gives alot of fake-outs. So my idea is to make it so the bars change colors from light to dark depending on whether or not the ADX strength line crosses over a certain number that can be adjusted according to preference. In my case, over the 21 level.
Something like when ADX strength line is below preferred level, DI+ color would be forest green and DI- color would burgandy and when ADX strength line was above preferred level, DI+ color would be lime green and DI- color would be red.
IMHO, ADX indicator is good for faster time frames (1M to 30M) for all those scalpers and day-traders out there. Solid but not too lagging.
CHECK OUT SCREENSHOT AND IF SOMEBODY IS UP TO THE TASK, LET ME KNOW!!!
Peace,
F.F.L.
Last edited by forex_for_life; 05-17-2007 at 06:56 PM.
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