Forex trading strategy #14 (ADX Power)
Submitted by User on June 10, 2009 - 12:46.
Hi everyone,
Just another simple to follow strategy for you guys, hope you find it useful.
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ADX POWER
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- Timeframe: I use it on 4 hours, feel free to use it on smaller timeframes as well
- Currency Pair: Any
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Hi Edwin,
By default EMA is applied to (you can also read "calculated based on") the Close of the price bars.
But you also have an option to apply EMA to Open or even to High or Low.
ADX is not necessarily should be pointing upwards, but it is always better when it does, because it confirms that the trend accelerates.
Best regards,
Edward
Hi Edward
Noted with thanks.
Regards
Edwin
in the second chart you have entered short and long although the ADX was below 20!!
Dear Edward.
Thanks for all the things your are providing free of charge, and I have one question, which is
That I do not have DI+ with the ADX, in my forex platform where as I have them separately, so in that case how can I know if it is in between DI+ DI-. Do I have to do it by checking the values of each line or is it an important rule to be checked.
Thanks you
Hi,
Having them separately means you'd need to check the values manually, which is more time consuming vs simply visual check.
If you use MT4 platform, try this indicator:
ADX.mq4
Regards,
Edward
ok . thanks a lot
Dear Edward,
How to insert ADX & DMI indicators next to each other?
Regards
Hi,
If you use MT4, then your ADX (Average Directional Movement Index) will be plotted with DMI (DI) lines in it.
If you have two separate indicators for it, say custom ADX and custom DMI, then try dragging both indicators from the Navigator window in MT4. The indicators should overlap.
I have a custom MT4 indicator (notice the settings to turn on/off the lines you need), but it doesn't exactly match the standard ADX we have on MT4.
DMI.mq4
Regards,
Edward
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