ADX Differential Indicator for NinjaTrader
Like ADX Indicator - Only Better!
The ADX Differential Indicator uses the ADX indicator to look for breakouts in directionless markets, within defined periods of time. This is the NinjaTrader version of the ADX Differential Indicator, which is loosely based on the ADX Differential Indicator for TradeStationKEY FEATURES
- Breakout Indicator
Uses ADX Indicator to locate breakouts in directionless markets - Great For IntraDay
Many report that IntraDay results are great, but be aware of daily data.
The ADX Differential Indicator is great at finding breakouts during directionless markets. I did find though that this indicator doesn't do so well with daily data, and others report that it works much better on intra-day values.
There are 2 settings that can be adjusted to help refine how you use this indicator.
The first is LenADX, and is an input into the number of days of ADX values you want to use. The other is LenAvg and is a smoothing average for the resulting line. The defaults are 14 and 4, respectively, and gives very descent default values.
On a side note - for you longer term tech analysts - try using this indicator on weekly data. I was a bit surprised at how accurate it was.
Chart Examples:
As with any indicator though, always pair up with a few other indicators for confirmation.
Good luck trading guys!
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