The ADX indicator is a popular indicator. ADX indicator used in technical analysis as an objective value for the strength of trend. ADX is non-directional and it will quantify a trend’s strength regardless of whether it is up or down. ADX is usually plotted in a chart window along with two lines known as the DMI (Directional Movement Indicators). ADX is derived from the correlated of the DMI lines.
ADX indicator for metatrader
The ADX indicator (average directional index) is used to determine when 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 is 14 bars, although other time periods can be used. ADX can be used on any trading vehicle such as stocks, mutual funds, exchange-traded funds and futures.
ADX is plotted as a single line with values ranging from a low of zero to a high of 100. ADXis non-directional; it registers trend strength whether price is trending up or down. The indicator is usually plotted in the same window as the two directional movement indicator (DMI) lines, from which ADX is derived
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