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Winshots ADX Trend Scanner

59 USD

Demo downloaded: 13

Published: 25 January 2021

Current version: 1.5

Winshots ADX Trend Scanner

Indicators
Pawel Michalowski
Version: 1.5
Updated: 18 March 2024
Activations: 5

ADX is used to quantify trend strength. ADX calculations are based on a moving average of price range expansion over a given period of time. The default setting is 14 bars, although other time periods can be used. ADX can be used on any trading instrument such as forex pairs, stocks, mutual funds, exchange-traded funds, futures and crypto.

ADX is plotted as a single line with values ranging from a low of zero to a high of 100. ADX is non-directional; it registers trend strength whether price is trending up or down. The standard ADX indicator is usually plotted in the same window as the two directional movement indicator (DMI) lines, from which ADX is derived.

However when you use the standard ADX indicator it can get a little confusing with all the lines zigzagging and criss-crossing. Not only that, when you switch between different instruments and different time frames the ADX lines could be crossing in the opposite directions confusing you even more!

Winshots ADX Trend Scanner indicator takes care of this problem. In one simple view you can quickly determine the state of ADX trend on all time frames, on many different FX currency pairs!!! Yes you read that correctly. No more clicking through different time frames of different Forex pairs looking at ADX lines criss-crossing every which way like hot spaghetti. In addition to showing you exactly what the trend is on every FX pair and every time frame the Winshots ADX Trend Scanner indicator also highlights the FX pair that is strongly trending on ALL time frames. This additional feature allows you to quickly determine if there is a strong momentum in the market and if it's worth trading during your chosen time.

In version 1.3 I've added new exciting features! The main study used is still ADX but I used the same concept to also add RSI, MACD, Stochastic and CCI (in 1.4 latest) studies to the scan. In addition, there is a new timer function that allows you to automatically cycle the studies used, which automatically enhances the trader's knowledge about the current instrument on the chart. Furthermore, the instruments loaded into the scanner are loaded from the Market Watch window instead of being hardcoded. This may be CPU intensive so it is recommended that you only add a few instruments initially to the Market Watch to see how your computer will behave. If your computer is relatively new this should not be a problem. Enjoy having a clear view of the markets you trade! :-)

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176

getcashgod 2023.04.27 05:39 #

Purchased both adx trend indicators five stars

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getcashgod 2023.04.27 05:39 #

Purchased both adx trend indicators five stars

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Reply from developer Pawel Michalowski 2023.04.28 00:09 #

Thank you for your kind words! Rest assured I still use both myself every day for day trading and whenever there is a fix or a new feature idea I will make sure to update it here as well :-)

Version 1.5 2024.03.18

In this version:
- bug fixes
- faster refresh rate
- loading instruments from the Market Watch list only
- ADX optimization

Version 1.4 2023.04.28

Added the Commodity Channel Index (CCI) study to the scanner and fixed a couple of minor bugs to speed up loading the data.

Version 1.3 2022.09.28

The main study used is still ADX but I used the same concept to also add RSI, MACD, and Stochastic studies to the scan. In addition, there is a new timer function that allows you to automatically cycle the studies used, which automatically enhances the trader's knowledge about the current instrument on the chart. Furthermore, the instruments loaded into the scanner are loaded from the Market Watch window instead of being hardcoded. This may be CPU intensive so it is recommended that you only add a few instruments initially to the Market Watch to see how your computer will behave. If your computer is relatively new this should not be a problem.