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ADX-System
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 |
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Different with the built-in one
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 |
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Quote:
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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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.
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thanks
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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 |
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Quote:
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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