We very often use Average Directional Movement Index (ADX) to identify a trend in forex. We use a simple rule:
- If the indicator is above level 25, the market is in strong trend and we then study the values of DI + and DI- for the nature of the trend.
EasyADX comes to simplify our task, it does all this work for us and alerts us when the market enters a trend and also gives us the nature of the trend. It is presented in the form of a histogram to make its interpretation easy:
- Histogram bar is red: bearish trend
- Histogram bar is green: upward trend
- Histogram bar is gray: market without strong trend
EasyADX takes 4 parameters:
- ADXLevel: the level where we consider that the trend is strong.
- ADXPeriod: the calculation period.
- Notif: yes to send a notification to your phone when the market starts to trend.
- SendAlert: yes to send an alert when the market starts to trend.
Download it and have fun, please remember to rate.