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ADX with Buy and Sell for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
oscillator, trading system, amibroker
Trading in the direction of a strong trend reduces risk and increases profit potential. The average directional index (ADX) is used to determine when price is trending strongly. In many cases, it is the ultimate trend indicator. After all, the trend may be your friend, but it sure helps to know who your friends are. In this article in this article, we’ll examine the value of ADX as a trend strength indicator.
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Indicator / Formula
Copy & Paste Friendly
_SECTION_BEGIN("ADX");
range = Param("Periods", 50, 2, 200, 1 );
Plot( ADX(range), _DEFAULT_NAME(), ParamColor( "ADX color", colorBlue ), ParamStyle("ADX style", styleThick ) );
Plot( PDI(range), "+DI", ParamColor( "+DI color", colorGreen ), ParamStyle("+DI style") );
Plot( MDI(range), "-DI", ParamColor( "-DI color", colorRed ), ParamStyle("-DI style") );
Buy = Cross(PDI(Range), MDI(Range));
Sell= Cross(MDI(Range), PDI(Range));
PlotShapes(IIf(Buy,shapeUpTriangle,shapeNone),colorGreen,0,20,0);
PlotShapes(IIf(Sell,shapeDownTriangle,shapeNone),colorRed,0,20,0);0 comments
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