ADX settings , pls. advise..

Maverick · #1 02-03-2008, 08:15 AM

Hi,

Can somebody pls. tell me if the ADX settings that i've applied to Alpari MT4 chart for 15 min. GBPJPY (Attachment - Alpari ADX) is 'correct' in relation to the sample chart (Attachment - sample ADX) ?

My ADX lines seem to be more erratic than the sample chart.

I've set my to 14 periods & applied to 'CLOSE'.

I want my ADX lines to look very similar to sample chart.

As you know the Directional Movement Index is composed of ADX (avg. directional movement index) & DI+ and DI- lines.

Pls. advise - Mave

Moxy · #2 02-04-2008, 05:44 PM

Hi Maverick,

It's very difficult to see the difference with these 2 charts.

Take a screen shot of the Alpari GBPUSD charts based on the daily timeframe for the November 1993 time period, the same as the example chart you posted. Then we should be able to see the difference.

Moxy · #3 02-04-2008, 06:01 PM

Hi Maverick,

I brought up the Nov 1993 time period myself and the MT4 charts do not correspond to the example chart you posted. It looks to me that the example chart has been smoothed. May be using a moving average of the ADX itself.

One thing to note on the example chart is the upper and lower limits of the Y-Axis have been padded out. The example chart looks flatter because the bottom of the Y-Axis has a padding of 10 and the top a padding of about 2 or 3. The MT4 charts normaly don't pad the Y-Axis.

manni2 · #4 02-29-2008, 05:08 PM

Hello Maverick,

I have faced this problem, too. In fact MT4 uses a different calculation than the inventor of the ADX (Welles Wilder) did. I compared my MT4 charts with VT trader from CMS, and recognized that difference in shape of the ADX.

I have searched the web and found the original ADX with the calculation from Welles Wilder. Now it looks like the one from CMS.
I have attached the ADX.
I hope it helps.

Good trading,
and may the pips be with you,

manni2

zorak · #5 03-23-2008, 03:06 PM

IMHO, period=8 is more accurate. my 2 cents

Tariq777 · #6 10-11-2008, 10:16 AM

thanx very much

lacktasid · #7 10-13-2008, 07:18 PM

thanks a lot

drbastem · #8 11-08-2008, 11:04 PM

Quote:

Originally Posted by manni2

Hello Maverick,

I have faced this problem, too. In fact MT4 uses a different calculation than the inventor of the ADX (Welles Wilder) did. I compared my MT4 charts with VT trader from CMS, and recognized that difference in shape of the ADX.

I have searched the web and found the original ADX with the calculation from Welles Wilder. Now it looks like the one from CMS.
I have attached the ADX.
I hope it helps.

Good trading,
and may the pips be with you,

manni2

can you add sound Alert and e-mail (Buy or Sell signals) ?
mehmet