how do you get todays highs and lows in your equation is this at 3pm eastern? thanks sounds interesting
Yes my other chart service is on EST so 3pm eastern would be how theirs is calculated.
The yellow high lighted text above is here
The ADX indicators I have for mt4 are a different calculation for the +/- di and hence are terrible for signals
I've attached the ADX coded to your formula. Try it out and let me know of any problems
On your system, you only trade long?
I've been trading the GBP/USD for over a year and have a system which will profit 150 to 250 pips a month. I'm looking for someone who can write a script for autotrading.
Don, you method sounds interesting. Can't wait to hear your results.
Why do you have 2 Emas if in your system you dont use them?
Same question for DMI since you only use the ADX ??
thanks for the indicator I will try it out.
Also thanks to others for the interest in the thread.
I trade long and short as long as ADX has crossed from below. I am looking at different ways to filter the trades to possibly cut down more on the losers
"Why do you have 2 Emas if in your system you dont use them?
Same question for DMI since you only use the ADX "
The EMAs are there out of habit but they and the DMI can be a warning of a change in direction
trade for 12.22.05
here is a comparison of the two charts, there is something different with the ADX in mt4.
My fxnews charts gave a nice signal for +50 pip short at 2:15 EST and mt4 chart gave no signal.
any ideas ?
in regards to the fxnews chart if you look there was another signal to go short again at 8:25, 1.7330 area however yesterday high was 1.7590 and strong support was at 1.7340 / 1.7390 which was 200 / 250 pips from the high of yesterday so I did not take that trade and as you can see GBP reversed there. there is a possible long trade starting to develop now however we are getting close to 12:00 EST and I have gotten my 50 for the day so not sure if I will take it.
I may take this long because now there is a 5 / 13 cross on the 30 min chart, if the ADX crosses the 20 on the 5min. as late as it is this trade may only be worth 20 or 30 pips but if it allows me to play I will definatly close around noon est.
can you set this up so we can change the DI periods?