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There aren't buy and sell signals. This tells you when you are in a trending or ranging market on multiple timeframes. Trending markets use moving averages, etc, and ranging markets use your favorite oscillator, like stochastics for example.
That being said, if all arrows are green pointing straight up, you're probably in a trending market going upwards, the opposite if all red arrows pointing downwards.
Hi I like ur idea thank u for the gr8 indicator .. I do have few questions if u don't mind
1- What do the numbers mean next to the arrows .. The higher the stronger ?
2- If I want to go long do I should to wait for them all to be come
green ? and visa versa for short (all red) ..
3- Shall I wait for 90 degree arrow for all 6 time frames before entering or 4 and above is enough ?
4- Is the waving blue signal means stay away from the market as its not stable or no trend ?
Cheers,
Deea
1) the numbers next to the arrows are the actual ADX values for that timeframe on the currency pair you've attached the indicator to
2) it depends on how short a trend you want to trade with, short answer, yes if they're all green or red its time for a trend trade
3) no, sometimes I see a 45 degree angle arrow and start a trade early if CCI, MACD and moving averages all agree
4) the wavy blue means you're in a ranging market and you can use oscillators like stochastics or whatever else is your favorite, for me, just personal preference, I don't trade ranging markets much but that's up to you
nittany, ive been using your indicator for a week and i love it! It helps me reassure which way the market is going and it shows me da movement of the market in other timeframes..it saves me a lot of time instaed of checkin each time frame one by one n see which direction they're heading. Your indicator shows me their movements at a glance.
GREAT WORK!
thanx
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Thanks for the great indicator, I'm going to try using it as a MTF indicator to show when a trend is about to change or is only pausing before moving higher or lower.
Once again thanks for sharing and many pips to you.
What does it mean when the ADX arrow is slanted vs vertically?
Is it possible to to show +DI and -DI?
I have found that ADX for short time frame is not too good since it bounces too much if the market is very volatile. Anyone have any thoughts on its use in lower TF?
Try using it as a MTF indicator
