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Trading in the direction of a strong trend reduces risk and increases profit potential. In general the average directional index (ADX) is used to determine when the price is trending strongly. In many cases, it is the ultimate trend indicator! After all, the trend may be your friend, but it sure helps to know who your friends are. 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
Purpose: The function of this indicator is to draw 3 moving averages (MA's) lines on the main MT4 price chart. The MA's are from 3 different timeframes specified by the user independent of the chart that is currently displayed. When you toggle your chart view through different time frames, the 3 MA's will continue to display the MA lines for the time frames specified in the properties. Example: The default settings map out three 50 bars MA's for H4, D1 and W1 time frames. During
What is a Pivot? A pivot is a significant price level known in advance which traders view as important and may make trading decisions around that level. As a technical indicator, a pivot price is similar to a resistance or support level. If the pivot level is exceeded, the price is expected to continue in that direction. Or the price could reverse at or near that level. What does a Pivot Tell You? There are pivots and pivot points. These terms may mean different things to different people
Trading in the direction of a strong trend reduces risk and increases profit potential. In general the average directional index (ADX) is used to determine when the price is trending strongly. In many cases, it is the ultimate trend indicator! After all, the trend may be your friend, but it sure helps to know who your friends are. 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