Uses the ADX Indicator to Find Periods Where There is not a Direction
KEY FEATURES
- Gives a Sense of Trending
This indicator will take the important information that the ADX provides from the current bar to the last bar and give a sense of trending. - Looks for Breakouts
uses the ADX indicator to look for breakouts from the previous range.
This indicator will take the important information that the ADX provides from the current bar to the last bar and give a sense of trending. When the value is increasing it means a stronger trend.
To define directionless markets the ADX Differential Strategy is used with an intra-day lower time compressions, meaning fifteen minute bars or smaller. Daily charts will work; however, with larger intra-day time frames the gap from open to close will cause unexpected results.
To smooth the line a four bar average of the differential is used.
Chart Examples:
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