Forex trading strategy #14 (ADX Power)

"Go Long" means Buy.
"Go Short" means Sell.
"Exit long" means close your Long position (Buy order).
"Exit short" means close your Sell order.

Best regards,
Edward

in tne above mentioned stragety "EXIT LONG" and go long what does it mean?. i am new to forex not that i had to mention it. :) thanks for your reply.

Hi DSV,

that's correct. You need ADX 14 - the default parameter.

Kind regards,
Edward

Hello,

What should I put in for the ADX Value, the online live chart I'm using gives me a default value of 14. Is that okay to use here?

Please let me know.

Best Regards,
DSV

How about this catch:
- when the cross appears you say that the market goes back 30-40% of the time - looks like a good opportunity to let it go a few candles down and may be use some Fibonacci retracements from the last top to measure the move, and then at some point enter a trade.

hey user.. i have used ur system nd must say its profitable in most cases but bro wht i wanted to ask is whenever i enter a trade nd whenever cross appears . market seems to go opposite of 30--40% of equity nd then returning baq to normal nd then in profit,
can v not make much clearer entry points so tht more pips can b gained?

Set profit at the nearest support/resistance, or at pivot. Alternatively, make it a fixed amount.
There are countless ways to set profits. Just read what other strategies have to say.

the best MT4 indicators? Might be these, for example: http://forex-indicators.net/mt4-indicators

Thomas

Dear Edward,

What is the best indicator or a good indicator to use on Meta4 platform

wow a nice site. how do i set my profit

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

Dear Edward,

How to insert ADX & DMI indicators next to each other?

Regards

ok . thanks a lot

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

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

in the second chart you have entered short and long although the ADX was below 20!!