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Jair
4
Jair 2011.04.17 23:35 

I need help modifying the ADX in MT5. Currently, the only parameter allowed to be entered by the user is the number of periods for the ADX. I need the ability to input a different time periods for the DMI.

Basically this would mean having the ability to set an 8 period moving average (ADX) of the 13 period differences in the DMI.

+DM:  Divide the 13-day smoothed Plus Directional Movement (+DM) by the 13-day smoothed True Range to find the 13-day Plus Directional Indicator (+DI13). Multiply by 100 to move the decimal point two places. This +DI13 is the Plus Directional Indicator (green line) that is plotted along with ADX.

-DM:  Divide the 13-day smoothed Minus Directional Movement (-DM) by the 13-day smoothed True Range to find the 13-day Minus Directional Indicator (-DI13). Multiply by 100 to move the decimal point two places. This -DI13 is the Minus Directional Indicator (red line) that is plotted along with ADX.

DMI:  The Directional Movement Index equals the absolute value of +DI13 less - DI13 divided by the sum of +DI13 and – DI13.

ADX: is simply a 8-day average of DX. Subsequent ADX values are smoothed by multiplying the previous 8-day ADX value by 7, adding the most recent DX value and dividing this total by 8.

I have had much success using the techniques from Charles Schaap: ADXcellence, which is why I’m asking for this indicator. See links for more info.

http://www.stockmarketstore.com/freestockchartscom.html

http://www.investopedia.com/articles/trading/07/adx-trend-indicator.asp

http://www.adxcellence.com/adxindicator.html

I was able to program the indicator on Thinkorswim, but I have switched to a broker that can use MT5, and would like to have this indicator on MT5.

Thanks in advance.

Documentation on MQL5: Math Functions / MathAbs
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Math Functions / MathAbs - Documentation on MQL5
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