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Here is the ADXVMA function and indicator for EasyLanguage - TradeStation/MultiCharts. I am unsure of the original author, this is a conversion from NinjaTrader.
I've built it as a function so you can use it in signals easily. The attached .pla MultiCharts file is both the function and the indicator.
I know that some NT users like to set the rising and falling plots to transparent so they are left with "shelfs" for the neutral plot. I tried, but there is apparently no way to do this in EasyLanguage. I've emailed MultiCharts for help.
If you set Rising and Falling to your chart background color (ie: black), and change ADXVMA plot to Point instead of line, it works "fairly well" (not perfect).
I tried something similar to that, the problem is that unless you choose a Point plot, the lines from bar X will be connected to bar Y, even for just the neutral plot (av = av[1]). Using point/dot is not a show stopper, but it seems they really need a transparent method.
I'm going to leave it be because I don't really use this indicator, but you guys should improve it and share it back
Hey guys, I was playing with another indicator tonight and realized I had a real simple way to make ADXVMA plot just the 'support and resistance' lines that many of you like (as opposed to the falling/rising lines).
Here is the new EasyLanguage code. You might want to create a new Indicator name for this version, like "ADXVMA SR Only" for instance, to keep the original indicator intact:
Here are some screen shots. You can see it just plots the last S/R line only.
I believe in laymens terms it uses a VMA and ADX together to plot the MA. The MA is primarily based on the VMA of price but uses the ADX values to determine volatility, adjusting the VMA by the volatility.
As I am not the original author I can't say for sure, but that is what I see from glancing at the code.