ADX reset at time XX

• 04/19/2021 at 8:08 PM #167548
  tattby

  Hello,
  I’m trying to recode the ADX indicator a little bit.
  I would like to reset the ADX value at a specific time.
  E.g. once ADX value hits 80 then reset it to zero in order to follow a new strength trend at opposite direction.
  Any ideas?

  ADX reset

  IF currenttime = XX then plusDM = max(high-high[1], 0) minusDM = max(low[1]-low, 0) IF plusDM > minusDM THEN minusDM = 0 ENDIF IF plusDM < minusDM THEN plusDM = 0 ENDIF IF plusDM = minusDM THEN plusDM = 0 minusDM = 0 ENDIF REM Let's compute the directional indicators plusDI = wilderAverage[p](plusDM) minusDI = wilderAverage[p](minusDM) REM Let's compute the ADX indicator DX = ABS(plusDI - minusDI) / (plusDI + minusDI) * 100 myADX = wilderAverage[p](DX) RETURN myADX as "ADX"

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  IF currenttime = XX then       plusDM = max(high-high[1], 0) minusDM = max(low[1]-low, 0)   IF plusDM > minusDM THEN minusDM = 0 ENDIF   IF plusDM < minusDM THEN plusDM = 0 ENDIF   IF plusDM = minusDM THEN plusDM = 0 minusDM = 0 ENDIF   REM Let's compute the directional indicators   plusDI = wilderAverage[p](plusDM) minusDI = wilderAverage[p](minusDM)   REM Let's compute the ADX indicator   DX = ABS(plusDI - minusDI) / (plusDI + minusDI) * 100 myADX = wilderAverage[p](DX)   RETURN  myADX as "ADX"

   

  

  tattby

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  07/05/2021 at 4:36 PM #173180
  robertogozzi

  It’s not possible to reset ADX, as it recalculates itself candle after candle according to what happened in the last N periods, like MA’s, Macd, etc…

   

   

  

  robertogozzi

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