Average Directional Index (ADX) Trading System for Metastock
This is a trading system based on the ADX indicator. The buy and sell conditions are very simple. The trading system indicates long when the Plus Directional Indicator (+DI) is greater then the Minus Directional Indicator (-DI) and the current days ADX is greater then the previous days ADX. The system indicates sell when the +DI is less then the -DI and the current days ADX is less then the previous days ADX.
Indicator / Formula
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{Open Long:}
PDI(opt1) > MDI(opt1) AND ADX(opt1) >Ref(ADX(opt1),-1)
{Close Long:}
PDI(opt1) < MDI(opt1) AND ADX(opt1) <Ref(ADX(opt1),-1)
{Open Short:}
PDI(opt1) < MDI(opt1) AND ADX(opt1) <Ref(ADX(opt1),-1)
{Close Short:}
PDI(opt1) > MDI(opt1) AND ADX(opt1) >Ref(ADX(opt1),-1)0 comments
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