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ADX Trigger AM

The indicator determines entry points and uses crossing of ADX +/- lines and growth or fall of the main ADX line. When the indicator crosses the zero line, the trend is changed.

  • If the oscillator's value is 1 - the price grows, the trend remains;
  • If the oscillator's value is 0.5 - the price grows, the trend is absent;
  • If the oscillator's value is -1 - the price falls, the trend remains;
  • If the oscillator's value is -0.5 - the price falls, the trend is absent;

The best entry moment is crossing the High/Low of the bar where the indicator has crosses 0.


Settings:

  • ADX_Period - ADX period
  • ADX_Price - price used to calculate ADX (from 0 to 6)
jacquestrading
222
2017.04.12 10:18 
 

Really good indicator. I've only tried on strategy tester, but looks really good. I will update this review after I've tried it on the live market. Because of the type of indicator, I don't expect it to behave differently on the live market. I'm a scalper so I changed the settings to suite my needs. Also, I added a 0.5, and -0.5 level to help grab my attention when the value changes... An audible alert would be nice. Updated review. Very nice indicator. I've used on the live market now for a few days and it is very helpful. I continue to use stochastic as a confirmation, but still, very nice indicator in helping determine if the trend will continue.

Version 4.0 - 2016.06.22
Revised the code. Added automatic replacement of incorrect settings.