ADX Trend signal indicator analyzes the values of three ADX indicators and sets signal pointers.

There are seven configurable parameters:

  • First ADX period - first ADX calculation period

  • Second ADX period - second ADX calculation period

  • Third ADX period - third ADX calculation period

  • Lelel 1 - first ADX threshold level

  • Level 2 - second ADX threshold level

  • Applied price

  • Signal point anchor - signal pointers' anchor point

  • High/Low - by High/Low signal levels

  • Open - by Open prices of signal colors

Signal pointers are set if:

ADX1_1 < ADX1_0 и ADX2_1 < ADX2_0 и ADX3_1 < ADX3_0 и ADX1_0 > Lelel 1 и ADX2_0 > Level 2

  • If DMI > 0, bearish (red) signal pointer is set

  • If DMI < 0, bullish (green) signal pointer is set

where:

ADX1_1, ADX1_0 - ADX(First ADX period, MAIN_LINE)  on bar 1 and 0
ADX2_1, ADX2_0 - ADX(Second ADX period, MAIN_LINE) on bar 1 and 0
ADX3_1, ADX3_0 - ADX(Third ADX period, MAIN_LINE) on bar 1 and 0

DMI = PDI - MDI
PDI = ADX(First ADX period, PLUSDI_LINE)
MDI = ADX(First ADX period, MINUSDI_LINE)

Fig. 1. ADX Trend, pointers to High/Low

Fig. 2. ADX Trend, pointers to Open