Unlike the traditional ADX indicator, where the ADX itself is plotted in absolute units and detection of the trend direction is hindered, this indicator clearly displays the positive and negative ADX half-waves (displayed as colored on the chart). And the DI+/- signals are displayed as their difference (gray).
The method of using this indicator is the same as the traditional one.
In addition, it displays the levels (dashed), above which the market is considered to be in a trend state. This level is usually set to approximately 20-25 percents, - somewhat depends on the time frame it is used on.
In the settings:
p - ADX period.
Level - critical level.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7566
The indicator shows when to sell and when to buy. But it is not so simple.FractalChannel_v1
Quite interesting method for plotting a channel. Despite the obvious plotting primitivism, it can be useful during the flat level analysis (for example, if you had no access to the terminal in a while, and it is necessary to assess the past events quickly).