ADX-System

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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

Files:
adxdon.mq4  5 kb
 

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

Always good trading,

Machiavelli

 

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

 
 

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.

 

Good Enough

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 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

 
 

Identifying bars

The data given back from the ADX indicator supplied with MT4 does not give correct values if you compare to the original calculations done J.Welles Wilder Jr in his book "New Concepts in Technical Trading Systems" In fact it seems that there are quite a few different implementations. the one in MT4 seems to differ more than other. So I decided to write one. Now Wilders method for calculation does not readily adapt itself to MT4 maily due to the fact that the MT Indicator gets invoked several times for the same bar.

Is there a way to discover if I get a new bar or if I get an update for the last bar?

Ingvar

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