[naoligo] Simple ADXI'm publishing this indicator just for study purposes, because the result is exactly the same as DMI without the smoothing factor. It is exactly the same as ADX Wilder from MT5.
I was looking for the algorithm all over and it was a pain to find the right formula, meaning: one that would match with the built-in ones. After several study and comparison, I still didn't find the algorithm that match with the MT5's built-in simple ADX ...
Enjoy!
ADX
HYPER ADXADX typically shows the strength of a trend. Hyper ADX is specially coded for showing intraday overbought and oversold conditions.
Glory Hole with SMA + ADX - StrategyHere you get a script with the rules for "Glory Hole"-Strategy from Linda Raschke.
In Addition, I choose the SMA - not the EMA for this script.
MY RECOMMONDATION:
If you get a trade Signal, then set an sell- oder buy-order on the high or low. If the next bar doesn't touch into the trade, then delete your order.
Have fun and good look.
KK_Average Directional Index (ADX) Higher TFHey guys,
sometimes you just want to plot an Indicator value from a higher Timeframe on your Chart. For most Indicators this is pretty straightforward however there is one Indicator that has been giving me quite a headache while trying to do this: The Average Directional Index . Anyway after going through almost 200 versions of this script I finally found a solution that works and thought I would share this with you, since I'm sure some of you have encountered the same problem.
How it works
Go to your desired Instrument/Timeframe and add the Script
Under Settings in the field for "Higher ADX TF" put the Timeframe-code you want to pull the ADX Values from.
- Codes: Monthly - M, Weekly W, Daily - D
- Codes Intraday: The amount of hours in minutes, e.g. if you want to pull values from the 4h-Chart the code is 240 (60 for 1h, 15 for 15m ...)
In some cases (see below) the calculation might not be correct. So make sure the values are correct:
a) Write down the latest ADX of the higher TF while you are on the lower TF
b) Switch the Resolution to the higher TF
c) Compare the value you have just written down to the next to last value. They should be the same.
d) Switch back the Resolution to the lower TF and you're good to go.
Limitations
You can only pull values from higher Timeframes, e.g. you're on a 4h Chart, so you can only pull values from the Daily, Weekly and Monthly Chart. You can't pull values from the 1h Chart.
You can only pull values from Timeframes, where the higher Timeframe Close always has a corresponding Close on the lower Timeframe, e.g. you can't pull values from the 3h Chart when you are on a 2h Chart. This should be pretty rare.
The Script needs a certain amount of Data from the Higher TF before the calculated values are correct. I have tested this on several Instruments and the Script usually needs approximately 100 Bars on the higher Timeframe (often less) for the values to be correct (error < 1%).
So when the difference between your lower Timeframe and you higher Timeframe is large, e.g. you want to pull the Daily ADX value on a 15m-Chart, the calculation can be wrong. This can lead to errors in 2 Cases:
a) Backtesting: When you go over old data and get close to the last available Bar the Data will be wrong. This will limit the amount of data you can backtest.
b) Live values: When the difference between the two Timeframes is too large, it is possible that even live values are wrong, e.g. this will be the case when you are trying to pull the Daily ADX value on a 5 minute Chart. Always check if the calculation works with your desired combination of Timeframes before using it (see above).
I hope this is useful for you and whish all of you successful trading!
Best regards
Kurbelklaus
Directional Trend Index (DTI) This technique was described by William Blau in his book "Momentum,
Direction and Divergence" (1995). His book focuses on three key aspects
of trading: momentum, direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship between
price and momentum in step-by-step examples. From this grounding, he then looks
at the deficiencies in other oscillators and introduces some innovative techniques,
including a fresh twist on Stochastics. On directional issues, he analyzes the
intricacies of ADX and offers a unique approach to help define trending and
non-trending periods.
Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder.
The DM+ (a part of Directional Movement System which includes both DM+ and
DM- indicators) indicator helps determine if a security is "trending." William
Blau added to it a zeroline, relative to which the indicator is deemed positive or
negative. A stable uptrend is a period when the DTI value is positive and rising, a
downtrend when it is negative and falling.
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading
Directional Trend Index (DTI) Strategy This technique was described by William Blau in his book "Momentum,
Direction and Divergence" (1995). His book focuses on three key aspects
of trading: momentum, direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship between
price and momentum in step-by-step examples. From this grounding, he then looks
at the deficiencies in other oscillators and introduces some innovative techniques,
including a fresh twist on Stochastics. On directional issues, he analyzes the
intricacies of ADX and offers a unique approach to help define trending and
non-trending periods.
Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder.
The DM+ (a part of Directional Movement System which includes both DM+ and
DM- indicators) indicator helps determine if a security is "trending." William
Blau added to it a zeroline, relative to which the indicator is deemed positive or
negative. A stable uptrend is a period when the DTI value is positive and rising, a
downtrend when it is negative and falling.
ADX Color Easy [Dravya]Script #1
So,
here is my first script.
This is the normal 14 period ADX,
but with a color twist, to make it extremely easy on eyes.
and then,
easily spot the strength.
ADX, as you know, shows the strength of the trend.
As short term traders, we need price movement and a strong trend.
How to use this script ?
1. We don't trade when ADX is in the red zone (0-20)
2. We get ready for trading when it enters the blue zone (20-30)
3. We trade when the ADX enters the green zone (>30)
Simple, right !
Now, in the green zone,
in which direction you should trade?
Here are a few links, to help you use ADX as a strategy ,
www.tradingsetupsreview.com
www.babypips.com
Other than this, you can combine this with your own strategies.
Personally, I like to use it on stocks on 1H timeframe.
Thanks.
Would love to hear from you.
Please like it to support the project,
and help spread it.
HYPER ADX V5Fixed rendering problen at progressing bars for ultra low time frames. Added alert options for cross types.
Directional Movement Index 4 colors (DMI 4c)It is a normal Directional Movement Index, but instead of using lines for +DI and -DI it uses histogram and 4 colors. It also contains an horizontal line (default value @20) to indicate when a trend is confirmed or not.
CM_ADX+DMI ModMashed together Chris Moody's ADX thing with his DMI thing.
So you can see trend strength + direction
green-ish = uptrend-ish//red-ish = downtrend-ish
Colors can be adjusted though.
below 10 = gray, not much going on
10 - 20 = light green/light red, could be the beginning o something
20 - 40 = bright green / bright red, something is going on
above 40 = dark green, dark red, exhaustion (default is 40, can be adjusted to whatever)
Bollinger Band and ADX Retrace Alert v0.1 by JustUncleLThis script is an implementation of a well known Bollinger band + ADX retracement strategy for 1min to 15min charts. This variation uses my own settings, a market direction filter and has an alert that can be added to your trading alarms.
Forex Master v4.0 (EUR/USD Mean-Reversion Algorithm)DESCRIPTION
Forex Master v4.0 is a mean-reversion algorithm currently optimized for trading the EUR/USD pair on the 5M chart interval. All indicator inputs use the period's closing price and all trades are executed at the open of the period following the period where the trade signal was generated.
There are 3 main components that make up Forex Master v4.0:
I. Trend Filter
The algorithm uses a version of the ADX indicator as a trend filter to trade only in certain time periods where price is more likely to be range-bound (i.e., mean-reverting). This indicator is composed of a Fast ADX and a Slow ADX, both using the same look-back period of 50. However, the Fast ADX is smoothed with a 6-period EMA and the Slow ADX is smoothed with a 12-period EMA. When the Fast ADX is above the Slow ADX, the algorithm does not trade because this indicates that price is likelier to trend, which is bad for a mean-reversion system. Conversely, when the Fast ADX is below the Slow ADX, price is likelier to be ranging so this is the only time when the algorithm is allowed to trade.
II. Bollinger Bands
When allowed to trade by the Trend Filter, the algorithm uses the Bollinger Bands indicator to enter long and short positions. The Bolliger Bands indicator has a look-back period of 20 and a standard deviation of 1.5 for both upper and lower bands. When price crosses over the lower band, a Long Signal is generated and a long position is entered. When price crosses under the upper band, a Short Signal is generated and a short position is entered.
III. Money Management
Rule 1 - Each trade will use a limit order for a fixed quantity of 50,000 contracts (0.50 lot). The only exception is Rule
Rule 2 - Order pyramiding is enabled and up to 10 consecutive orders of the same signal can be executed (for example: 14 consecutive Long Signals are generated over 8 hours and the algorithm sends in 10 different buy orders at various prices for a total of 350,000 contracts).
Rule 3 - Every order will include a bracket with both TP and SL set at 50 pips (note: the algorithm only closes the current open position and does not enter the opposite trade once a TP or SL has been hit).
Rule 4 - When a new opposite trade signal is generated, the algorithm sends in a larger order to close the current open position as well as open a new one (for example: 14 consecutive Long Signals are generated over 8 hours and the algorithm sends in 10 different buy orders at various prices for a total of 350,000 contracts. A Short Signal is generated shortly after the 14th Long Signal. The algorithm then sends in a sell order for 400,000 contracts to close the 350,000 contracts long position and open a new short position of 50,000 contracts).
ZeroLag ema + adx = trueCombined LazyBears ZeroLag EMA and CapnOscars moving average ADX. Here's the result.
I figured it could be used as a trend trendtrading system,
ADX red + ema cross downards = short.
ADX green + ema cross up = long.
ADX black + ema cross = no trade
Or something along those line. A way filter out whipsaws.
This is just something I threw together in 5 min, so din't go all in tho. Haven't had time to test.
2 ADX
3 Z-EMAs
Colors/settings can be customized.
Kay_BBandsV3This is the 3rd version of Kay_BBands.
When +DI (Directional Index ) is above -DI , then Upper band will be visible and vice-versa.
This is when the ADX is above the threshold. 28 is the default in this version. I found its more appealing in 5M time frame.
BLUE - ADX under 10
GREEN - Uptrend, ADX over 10
RED - Downtrend, ADX over 10
Use it with another band with setting 20, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.
I didn't know how to update the old script so published it again.
Changes - :
1) Updated default settings for the indicator
2) ADX setting are now DI (28), ADX (10), adx level to check is 10.
3) IMPORTANT one - When DI is up/down, lower/upper band will also have color (more visible that way.)
Play around the settings.. It really eliminates extra indicator checking visually... Please like if you think idea is good.
Kay_BBands v2This is the second version of Kay_BBands. But this is infused with ADX.
When +DI (Directional Index) is above -DI, then Upper band will be visible and vice-versa.
This is when the ADX is above the threshold. 20 is the default but can be set to 25.
When the ADX is below the specified threshold, both bands gets visible, showing no trending conditions.
Use it with another band with setting 20/21, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.
[FT] ADX-Multi-TF by FractalTraderAverage Directional Index is a way to determine trend strength (and whether there is a trend). One of the caveats is when you have trendless conditions on a higher timeframe. You can get whipsaw conditions on the current timeframe in that case.
The purpose of this script is to put ADX into the context of a higher degree trend on a single indicator.
