The advanced ADX indicator is based on the Average Directional Movement Index (ADX) developped by J. Welles Wilder.
ADX basics: +DI above -DI means positieve trend. -DI above +DI means negative trend. ADX values above +25 suggest strong trends.
Buy: Wait for the first green bar.
Sell: Wait for the first red bar.
Use in conjunction with other analysis tools, such as technical oscillators to pinpoint trade entries with small downside risk.
Currency pairs: any
Preferred Time frames: any
Sessions: any (London, New York for smaller timeframes up to the 15 min)
Configurable Indicator Options
EUR/USD Daily Chart Example
How to install the Advanced ADX custom indicator in Metatrader 4?
- Download the advanced_adx.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.