ADXm - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Unlike the traditional ADX indicator, which itself is plotted in absolute units and hinders detection of trend direction, this indicator clearly displays positive and negative ADX half-waves (shown in color on the chart). DI+/- signals are shown as their difference (grey).
This indicator can be used in the same way as a traditional indicator.
Additionally, it shows the level (dashed line) above which the market is considered to be trending. This level is usually set at around 20-25%, depending somewhat on the time frame it is used on.
In settings:
p - ADX period.
Level - critical level.
Attachment download
📎 ADXm.mq4 (2.73 KB)
Source: MQL5 #7566
ADXm - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
ADXm - MetaTrader 4 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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