Duo ADX

Category: Indicators By: Vinks_o_7 Created: May 10, 2019, 8:04 AM
May 10, 2019, 8:04 AM
Indicators
3 Comments

Here is a variation of my favorite indicator.
code based on Gabri ADX:

  • the regular ADX (smoothed)
  • A non smoothed ADX (ie almost no lag): the idea is to use it as a cycle oscillator to confirm the strength of the trend when the regular ADX and the non smoothed ADX goes the same way (ie cycle convergence).
  • The non smoothed ADX is faster than the regular ADX : it will show each change in the strength way before the regular ADX.
  • OB and OS level of the non smoothed ADX can also be useful…
period=14
mm=3
//computation of Directional Movement indicators
up=high-high[1]
dw=low[1]-low
if up>dw and up>=0 then
 plusdm=up
else
 plusdm=0
endif
if dw>up and dw>=0 then
 mindm=dw
else
 mindm=0
endif
//computation of TR
mioTR=max(abs(high-close[1]),max(abs(low-close[1]),range))
mioATR=average[period,MM](mioTR)
//computation of DI
dip=100*average[period,MM](plusdm)/mioATR
dim=100*average[period,MM](mindm)/mioATR
//computation of smoothed ADX  & non smoothed ADX
mioADXn=100*average[period,MM](abs(dip-dim)/(dip+dim))
mioADXnonSmoothed=100*(abs(dip-dim)/(dip+dim))

//return of data
return mioadxn as "ADX Normal",20 as "20",mioADXnonSmoothed as "ADX Fast",0 as "Zero reversal",50 as "50 Reversal"

 

Download
Filename: Duo-ADX.itf
Downloads: 264
Vinks_o_7 Master
Developer by day, aspiring writer by night. Still compiling my bio... Error 404: presentation not found.
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