CADX - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Oscillator Comparison ADX indicates relative trend strength, based on the smoothed values of five major currency pairs (EURUSD, GBPUSD, AUDUSD, USDJPY and USDCAD) and the indicator running tool.
USD/CHF is excluded from the list of indicator symbols to be calculated because it has historically reversed itself against EURUSD.
It has two parameters:
Current ADX - the average ADX value of the current trading symbol ADX = (ADX(EURUSD, period) + ADX(GBPUSD, period) + ADX(AUDUSD, period) + ADX(USDJPY, period) + ADX(USDCAD, period)) / 5
* Values above 1.0 (level value) are considered stable trends.
It should be noted that when first launching or switching timeframes, the indicator will take some time to download the history of all symbols used on the current chart timeframe. If there are no ticks for drawing indicator lines, it is worth switching the time frame once, because even if all necessary history is downloaded, the indicator will have to be recalculated when a new tick appears (if there are no ticks, it will be recalculated when switching time frames).
Attachment download
📎 cadx.mq5 (20.73 KB)
Source: MQL5 #20996
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