ADX reset at time XX

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

    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?

    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"
    07/05/2021 at 4:36 PM #173180 quote
    robertogozzi
    Moderator
    Master

    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…

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ADX reset at time XX


ProBuilder: Indicators & Custom Tools

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tattby @tattby Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
4 years, 7 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 04/19/2021
Status: Active
Attachments: No files
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