Qunity ADX Trend
- Indicators
- Version: 1.0
Trend indicator based on the ADX / ADXWilder indicator
The indicator shows trend areas using ADX or ADXWilder indicator data.
How the indicator works:
- if PDI is greater than NDI, then it`s bullish movement;
- if PDI is less than NDI, then it`s bearish movement;
- if ADX is less than or equal to the filter value specified in the parameters, then there is no movement state.
Input parameters of the indicator:
- Calculate Timeframe - timeframe for calculation;
- ADX Type - type of ADX calculation based on which the calculation is performed;
- ADX Period - period of calculation used;
- ADX Filter - ADX value filter;
- Logging - type of logging in the log.
Calculate Timeframe parameter do possible for you can display the values of higher timeframes on a younger chart. It should be noted that the last closed bar of the higher timeframe is used to calculate the higher timeframes.
Values in the "Market Watch" window:
- Direction - trend direction;
- Strength - trend strength;
- Open - trend start price;
- High - maximum price during the trend;
- Low - minimum price during the trend;
- Close - trend completion price.
The direction of the trend can be from -1 to +1, where +1 is a bullish trend, 0 is no trend, -1 is a bearish trend. The trend strength is calculated by the formula: ADX value - (ADX Filter * 0.75). Changing the trend to the value "0" does not stop the calculation of the prices of the previous trend, "Open" and "Close" values may not coincide with the opening of the bar on the chart, because the trend may change during the formation of the bar.
