Yes, it is because different scale for 2 indicators.
The only way is to do it programmatically. I means to code 2 indicators onto 1 indicator. But in this way it will not be so good in crossing ...

You must set fixed scale for each one. (in the inputs parameters)

FerruFx

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I am very interested in your indicator because Bill Poulos has complained that the ADX indicator within MT4 isn't correct. He advocates using the ADX within VT Trader which means changing software (and potentially brokerage firms) to use a correct ADX. I installed the indicator you programmed and the ADX became visible (after setting "Use ADX" to 1). It looks quite similar to the ADX in VT Trader which has two parameters (14 and 14) which appear to be the length of the ADX and the length of the DMI.

Can you confirm that I am understanding all of this correctly and that the default ADX within MT4 is different than Wilder's, while yours is a close approximation of Wilder's ADX?

I certainly appreciate your help.

Thanks,

Ira Berenhaus
iberenhaus@comcast.net

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

The ADX in MT4 works different compared to Wilders original method. There is a posting, I have forgotten where on this site that has a good ADX named WildersDMI_v1. It works correctly. I have told this to Bill Poulus and also provided him with a link to this site. Obviously he prefer not to inform his customers that there is a good ADX available for MT4. I have done some MT4 programming implementing one of his methods in MT4. (I bought his quite expensive package). I am not 100% sure I got everything right but so far its no good. On his site with testimonials there is an entry where a person claims to have programmed the indicators. When I tried to get in contact with that person and asked Bill about his address Bill blankly refused. Even after presenting Bill with good reasons why and some arguing. Makes you wonder why.

On igorad's version changing ADX form 1 to 0 you only hide the DMI and just see the DI+ and DI-.

Some history:

igorad discovered the problem long time ago: filters indicators

After read igorad comments I've contacted metaquotes. They made another DMI indicator but they decided to not include on the releases. Funny right? You recognize something is wrong but you don't want to fix it.

On last march, mladen and I we had a long long talk (32 messages). And he made 3/4 different new versions about Wilders DMI. One of them is the exact reply of the one explained into wilder's book, as igorad did two years ago. Differences are minors, see picture. Igorad last version is on the bottom.

projection6a.gif

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Just a continuation of Linuxsers message : the "to the letter" DMI

The reason it never was posted is that differences (value wise) compared to igorads version are marginal (compare them - you will see)
Also, if some other indicator shows different values than this one, then that indicator is wrong. This one is made to the letter the same way that Welles Wilder calculated it ("New Concepts in Technical Trading Systems" 1978 - starting from page 35)

Btw: apart of DMI (ADX), SAR, Volatility index, The Relative Strength Index (yes, the RSI), and some more goodies described in that book 30 years ago Maybe it is time people consider actualy reading that book. Anything capable of surviving 30 years in this world must have at least a grain o geniality in it. And that book really does show how the genius thinks

Attached Files

Wilder's DMI book.mq4 (4.2 KB, 37 views)

thank you guys

in a nutshell - what was the major diference in the Wilders and stock f-la?
(i heard the joke about i and dmi)