Dear fellow traders,

is there an ADX Indicator, where I can use different settings for the
DX periods, as well as the ADX smoothing periods?
The built-in one doesn't have this feature. (Or is someone able to program this?)

Thanks alot,

Machiavelli

THIS FORUM HELPED ME MANY TIMES SO I AM ALSO PAYING BACK MY DEBT

TRY THE ATTACHED INDICATOR.

BEST WISHES,
NEWTRADER

Attached Files

adxdon.mq4 (4.3 KB, 389 views)

Thank you very much Newtrader1! This is exactly what I was looking for.

Always good trading,

Machiavelli

Hi, newtrader1

Thanks for your indicator. I just compared your indicator with
the built-in one from mt4 is different, even I put ADXperiod=14, DIplusPeriod=14, and DIminusPeriod=14. Is that because your algorithim is different with built-in one(adx from meta) ?? Could I know what is the formula for +DI, -DI, and ADX ? If possible, could you point where is URL
that I could read a reference about adx ? Many Thanks

MT4 default ADX uses a different algorithm for calculation. Igorad developed a version according to Wilder´s explanation.

You could read all about adx on the book Wilder, J. Welles. New Concepts in Technical Trading Systems. Greensboro, NC: Trend Research, 1978.

Or do a search like this one

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Had to post this, (imagine your best movie preview voice)

The critics are saying:
"An original work of enduring value...a true innovator"
"...Absolute classic..."
"Wilder probably had no idea how revolutionary his work has become"
"Anyone that would ever give a negative rating for this classic...doesn't have the slightest clue as to what they have just read"

New Concepts in Technical Trading Systems: Coming this summer 1978, get ready for algorithms.

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Paper trading blog (MMG)

New Trader 1, I think think this indicator is good enough. If there's any other person with such brilliant ADX indicator contribution, let such person put it up. ADXs are very reliable indicators for NON-greedy traders.

Thanks Linuxser.

Thanks spoof and linuxser for this input.
I have realized the same discrepancy with the two adx indicators.
I am working on a trading strategy with ADX>25 and DI crossover as foundation. I see that the built in MT4 ADX is < 25 on much more occasions than the other one, or the original from Welles Wilder.
So is the MT4 ADX more sensitive or significant?
What is your experience?

Thanks for the input,
machiavelli

If Wilders makes one indicator called ADX with certain calculus rules anything using something different is not Wilder ADX.

I prefer to follow Wilder´s rules. Less yo yo.

It´s a shame to not have the real ADX to call with iADX function and related because we´re missing a lot of things and the possibility to create powerful derivatives. We can do something by calling iCustom but is problematic and have limitations.

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