Quote:
Originally Posted by igorad
Hi,
Recently I've found out, that ADX for MT4 is different with original Wilder's DMI. So, I've decided to develop correct DMI for our community.
With this indicator you can plot DMI+, DMI-, ADX and ADXR lines.
Regards,
Igor
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I'm trying to get the hang of using this blog. Not sure what governs where a response gets posted or where to look for replies.
Igor, I tried your ADX and compared it to the ADX values in VT Trader for daily bars on EURUSD. While the numbers are much closer than the default MT4 ADX, they are still quite different than VT Trader values. Bill Poulos advocates a cutoff level of 16. I've been looking at when VT Trader has an ADX greater and less than 16 vs. your indicator. There are considerable differences. The parameters are 14, 14 in both cases. Do you have any thoughts about the discrepancies.
I appreciate your help.
Ira Berenhaus
iberenhaus@comcast.net