Best ADX for 1 Hour Stock Indices Chart
Adding MetaTrader 4 ADX Stock Indices Chart Indicator
Step 1: Open the Navigator Window
Open the Navigator window as shown below; Go to "View" menu (click), then select the "Navigator" window (click), or From Standard Toolbar click the "Navigator" button or press keyboard short cut keys "Ctrl +N"
On the Navigator window, select "Indicators", (Double Click)
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Adding ADX MetaTrader 4 Stock Indices Indicator
Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the ADX indices indicator from this list of indices indicators so as to add the ADX indicator on the stock indices chart.
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How to Install ADX MetaTrader 4 Stock Indices Indicator
If the ZDX indices indicator you want to add is a custom indices indicator - for example if the ADX indices indicator you want to add is a custom ADX indicator you will need to first add this custom ADX indices indicator on the MetaTrader 4 platform and then compile the custom ADX indices indicator so that the newly added ADX custom technical indicator appears on the list of custom stock indices indicators on the MetaTrader 4 platform.
To learn how to install ADX indices indicators on MetaTrader 4, how to add ADX indicator window to MetaTrader 4 and how to add ADX custom indicator on MetaTrader 4 - How to add custom ADX indices Indicator on MetaTrader 4.
About ADX Indices Indicator Tutorial
ADX Indices Technical Analysis and ADX Indices Signals
ADX indicator is a momentum indicator used to determine the strength of stock indices price trend; ADX indices indicator is derived from the DMI - Directional Movement Index which has two lines.
+DI - Positive Directional Movement Index
–DI - Negative Directional Movement Index
ADX is calculated by subtracting these two values and applying a smoothing function.
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The ADX is not a directional indices indicator but a measure of the strength of the stock indices price trend which has a scale of Zero to 100.
The higher the ADX indicator value the stronger the stock indices trend.
ADX value of below 20 indicates that the stock indices price is not trending but moving in a range.
ADX value of above 20 confirms a buy or sell indices signal and indicates a new indices trend is emerging.
Values above 30 signifies a strong stock indices trend.
When ADX turns down from above 30, it signals that the current indices trend is losing momentum.
ADX combined with DMI
Since the ADX alone is a directionless indicator it is combined with the DMI index to determine the direction of the stock indices price trend.
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ADX and DMI Index
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When the ADX is combined with DMI index a indices trader can determine the direction of the indices trend and then use the this ADX indices indicator to determine the momentum of the prevailing indices trend direction.
ADX Indices Technical Analysis and Generating Indices Trading Signals
Buy Indices Signal
A buy indices signal is generated when the +DI is above –DI, and the ADX indicator is above 20
The Exit indices signal is generated when the ADX indicator turns down from above 30.
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Sell Indices Signal
A sell indices signal is generated when the –DI is above +DI, and the ADX is above 20
The Exit indices signal is generated when the ADX indicator turns down from above 30.
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