ADX Trend Scanner

$79.00

The ADX Trend Scanner is based on the “Average Directional Index” that was developed by J. Welles Wilder. This indicator aims to help traders determine trend strength and consolidation zones. The calculation is based on a moving average of the price range expansion over a specific period. The ADX plots values ranging from 0 to 100. This indicator does not indicate direction, rather it registers the trend strength regardless of whether price is trending up or down. This can be seen on price charts for any interval.

SKU: adx-trend-scanner Category:

Description

Traders who look for support and resistance look for consolidation zones to make buy/sell decisions. Most traders consider ADX values above 20 to be Trending and when ADX is below 20, there is no Trend.

ADX Value – Trend Strength
0-20 – No Trend
20-40 – Weak Trend
40-60 – Trending
60-80 – Strong Trend
80-100 – Very Strong Trend

Description

  • Heat shows 6 different color options.
  • Draw boxes around bars when ADX value is above UpperThreshold(40) or below LowerThreshold(20)
  • Market Analyzer and Strategy Builder ready.
  • Lifetime License for 2 computers.

Available for NinjaTrader 8.