WiseStockTrader.com

_SECTION_BEGIN("Mndahoo ADX");
//------------------------------------------------------------------------------
//
//  Formula Name:    Mndahoo ADX
//  Author/Uploader: Ahmed Mohammed Al-asmari - alkukab [at] yahoo.com
//  E-mail:          
//  Date/Time Added: 2006-10-16 23:44:21
//  Origin:          
//  Keywords:        Mndahoo ADX
//  Level:           advanced
//  Flags:           indicator
//  Formula URL:     http://www.amibroker.com/library/formula.php?id=744
//  Details URL:     http://www.amibroker.com/library/detail.php?id=744
//
//------------------------------------------------------------------------------
//
//  Average Directional Index (ADX):
//
//  --------------------------------
//
//  the Average Directional Index (ADX) in order to evaluate the strength of
//  the current trend, be it up or down. It's important to determine whether
//  the market is trending or trading (moving sideways), because certain
//  indicators give more useful results depending on the market doing one or
//  the other.
//
//  ADX is an oscillator that fluctuates between 0 and 100. Even though the
//  scale is from 0 to 100, readings above 60 are relatively rare. Low
//  readings, below 20, indicate a weak trend and high readings, above 40,
//  indicate a strong trend. The indicator does not grade the trend as bullish
//  or bearish, but merely assesses the strength of the current trend. A
//  reading above 40 can indicate a strong downtrend as well as a strong
//  uptrend.
//
//  ADX can also be used to identify potential changes in a market from
//  trending to non-trending. When ADX begins to strengthen from below 20
//  and/or moves above 20, it is a sign that the trading range is ending and a
//  trend could be developing.
//
//------------------------------------------------------------------------------

// By Ahmed Mohammed Al-asmari 
//-----------------------------------------------------------------------------------------------------------------
MaxGraph =10;
//---------------------
Graph0 = 70;
Graph1 = 60;
Graph2 = 50;
Graph3 = 40;
Graph4 = 20;
//---------------------
Graph0Color = 2 ;
Graph1Color = 2;
Graph2Color = 2;
Graph3Color = 1;
Graph4Color = 3;
//---------------------
Graph0Style = 13;
Graph1Style = 1;
Graph2Style = 1;
Graph3Style = 1;
Graph4Style = 1;
//Graph5Style = 1;

//-----------------------------------------------------------------------------------------------------------------
range = Param("Periods", 14, 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") );
//-----------------------------------------------------------------------------------------------------------------
_SECTION_END();