Why do ADX values change during candle even when set to "PRICE_OPEN" ?
rosenbridge: but PRICE_OPEN should be reporting static values that occurred at the open
of the candle, and shouldn't change. Why do they?
It should change. ADX is derived from DI+ and DI-.
Directional movement is positive (plus) when the current high
minus the prior high is greater than the prior
low minus the current low. This so-called Plus
Directional Movement (+DM) then equals the current high minus the prior high, provided it is positive. A negative value would simply be
entered as zero.
Average Directional Index (ADX) [ChartSchool]
Value has nothing to do with the open.
Average Directional Index (ADX) [ChartSchool]
William Roeder:
It should change. ADX is derived from DI+ and DI-. Value has nothing to do with the open.
It should change. ADX is derived from DI+ and DI-. Value has nothing to do with the open.
William: Then what is the purpose of being able to select PRICE_OPEN or PRICE_CLOSE? Changing this value on the indicator on a chart clearly changes the pattern of the indicator plot...
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Hi,
I was doing some back testing with the ADX indicator, and I noticed then even though I am using PRICE_OPEN in my code, that the ADX values for main, DI+ and DI- all change actively during the candle. I would suspect this behavior if set to PRICE_CLOSE, but PRICE_OPEN should be reporting static values that occurred at the open of the candle, and shouldn't change. Why do they? This makes back testing the ADX useless, because, who knows what value the historical candles actually are saved as?
Thanks!