VHF Adaptive ADXm - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Originally this indicator was developed for MetaTrader 4 by ANG3110 (originally published here: https://www.mql5.com/en/code/7566 )

From the original description:

Unlike the traditional ADX indicator, which is plotted in absolute units and detection of trend direction is hampered, 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 market level (dashed line) above which it is considered to be trending. This level is usually set to around 20-25% - somewhat depending on the time frame used.

It uses VHF (Vertical Horizontal Filter) to make it adaptive. This way, it responds to market changes more quickly, and signals tend to occur faster than the regular version.

You can use color changes as short-term trend change signals, or use zero crosses as long-term trend assessments.

Attachment download

📎 vhf_adaptive_adxm.mq5 (12.81 KB)

Source: MQL5 #22650