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ADX based Trend/Reversal Regions

HI All,

I have created a simple indicator that "paints" regions on the chart based on ADX and EMA.

Very Simple algorithm:

Chart paints regions only when ADX is above a customizable level. Default is 15.

Region Color Green: ADX Rising; EMA Rising (Potentially Bullish Trending)
Region Color Blue: ADX Falling; EMA Rising (Potentially Reversal)
Region Color Red: ADX Rising; EMA Falling (Potentially Bearish Trending)
Region Color Yellow: ADX Falling; EMA Falling(Potentially Reversal)

You can use this indicator as a means of confluence with other strategies you may have.

I am new to this forum and my first attempt at publishing my program. Hence I am not aware of all caveats that I need to include here. But this is merely an indicator that portrays ADX Value and EMA Value movements. This is not by any means a suggestion to trade !!

Please provide your feedback and suggestions. Would appreciate that.

Thanks

Category The Elite Circle

Details: ADX based Trend/Reversal Regions
Category: The Elite Circle

April 26th, 2019
Size: 6.48 KB

Keywords: adx reversal trend

Comments/ratings

Mberg April 26th, 2019 07:00 PM

Thanks! Nice work man... Is this for NT8 or 7?

cv2low May 2nd, 2019 03:20 AM

No Comment

srshanta May 12th, 2019 09:17 PM

This is for NT8.. sorry forgot to mention..

john5 July 27th, 2019 01:02 PM

Thank you. What EMA is it using, also 15? Would be nice to be able to set EMA of price to a custom level.

kcrawford September 19th, 2019 07:05 AM

Not bad, but a couple of things:
1) people should be able to change whatever colors to whatever they want
2) set the EMA so that it also can be adjusted, people are going to tinker with it, and want to.
3) set the ADX itself to the range they want there to,
THEN your indicator is complete and everyone can adjust it how they want.

Buscador November 8th, 2019 11:58 AM

Thanks for sharing

peter1 November 8th, 2019 02:15 PM

Need to add conditions where ADX>= and where Momentum >=. Black unpainted regions have those properties.
Great start!

renvik November 8th, 2019 05:20 PM

Thanks for your effort.

Phc1 November 9th, 2019 05:32 AM

I share Kcrawford's opinion :

Not bad, but a couple of things:
1) people should be able to change whatever colors to whatever they want
2) set the EMA so that it also can be adjusted, people are going to tinker with it, and want to.
3) set the ADX itself to the range they want there to,
THEN your indicator is complete and everyone can adjust it how they want.

Phc1 November 9th, 2019 05:45 AM

I think it's better to use the DM indicator as basis , it has the advantage of having the ADX and the DM in combo , where the DM shows momentum as Peter1 mentioned probably . took 2 screenshots :
-https://www.screencast.com/t/TkuRYjY96
-https://www.screencast.com/t/SrMkoaCB1XZK

https://www.investopedia.com/terms/a/adx.asp

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