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Normally people us the ADX for trading and put a Threshold number of 20 or 25, so that if you are BELOW this number you do not take the trade.
The correct way to use the ADX indicator is NOT to trend trade when the ADX is BELOW BOTH the +DI and the -DI lines. See attached chart. This has nothing to do with a Threshlod number of 20 or 25 or 15. It is solely based on the +DI and -DI lines.
I would like someone to add the attached NT indicator DM, the possibility of putting a little box up on the chart when the ADX is BELOW BOTH the -DI and +DI. The box should be coloured RED with "NO TRADE" and GREEN with "TRADE".
The following original code is complements of eDanny - Great Work!
I can't leave well enough alone - hugh fault of mine. No, I have no idea what I am doing, just trying some very simple logic after looking at the original code.
Could someone tell me if the following code change is correct (see code below)? I am attempting to write "Chop" when the ADX is below both DI+&- or if the ADX is above both the DI+&- to write End Trend (yes, I understand that this should be used for a heads-up, not always literal). Finally, if neither of those conditions are true, then write "Trade".
YOu have the right idea. I tried myself to do this exact thing that you are trying. i.e. to add to the indicator the "possible End of Trend, or Topping" as per my explanations. I wrote the same code but it did not work for me. We again need the help of a professional coder.