Advanced ADX Metatrader 4 Indicator
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