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Trend Status Indicator


dreamy

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Hi :)

 

(This is not any premium or official indicator. Just a small indicator I created to visualize important ADX levels)

 

This is for ADX fans only!! =D> I love ADX and my trading strategy requires viewing the ADX main line value constantly. I have tried to make something extracted from main adx but more colorful and visualized to show some trend status by color.

 

Download:

http://www.multiupload.com/3V5T18W8LU

 

Install:

Put in /experts/indicators/ in your MetaTrader program folder then load it to your template!

 

It shows small dots that represent ADX value in colorful mode. How to read this indicator?

- White = Trendless market, no direction at all (rarely occurs)

- DarkGray = Ranging/consolidating market

- LimeGreen = A trend is developing or has formed in market

- Green = A strong/rising trend either up or down

- Gold = A very strong trend usually means early warnings of retracement or pullback coming

- DarkOrange = Exhausted/overextended trend - wait for retracement/reversal to occur

- Red or FireBrick = Rarely occur but will occur in very long bull or bear run (Very very extended move)

 

Ok how can this useless crap help you? You should find out. You can use the Gold/Orange/Red signals to lock in profits then re-ride the trend at better entry. You can trade retracements/reversals if you can confirm them.

 

So I think you can use such visualized indicator for example; to avoid trading with strategies that require trending market (e.g. When it's white/silver) or to lock in profits from your trade (when it's Gold or Darkorange/Red)..and the most risky method is to trade bounces in overextended markets. (They are most of the time profit taking rather than reversals)

 

Another use is to know when prices are rising in uptrend for example, but adx is falling which shows that trend is losing momentum.

 

\m/

 

Chart:

 

http://img191.imageshack.us/img191/4545/31314148.gif

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Re: Trend Status Indicator

 

well...here its...enjoy. from the first look the indicator is very accurate in catching the turning points ...if its not repaint...but we have to try to read it more and watch it more to get the best of it...kudos for you....

 

#property indicator_separate_window
#property indicator_minimum -1
#property indicator_maximum 1
#property indicator_buffers 8

double buf0[];
double buf1[];
double buf2[];
double buf3[];
double buf4[];
double buf5[];
double buf6[];
double buf7[];
double val[];

int init() {
  SetIndexBuffer(0, buf0);
  SetIndexStyle(0, DRAW_ARROW, STYLE_SOLID, 0, White);
  SetIndexArrow(0, 108);
  SetIndexBuffer(1, buf1);
  SetIndexStyle(1, DRAW_ARROW, STYLE_SOLID, 0, DarkGray);
  SetIndexArrow(1, 108);
  SetIndexBuffer(2, buf2);
  SetIndexStyle(2, DRAW_ARROW, STYLE_SOLID, 0, LimeGreen);
  SetIndexArrow(2, 108);
  SetIndexBuffer(3, buf3);
  SetIndexStyle(3, DRAW_ARROW, STYLE_SOLID, 0, Green);
  SetIndexArrow(3, 108);
  SetIndexBuffer(4, buf4);
  SetIndexStyle(4, DRAW_ARROW, STYLE_SOLID, 0, Gold);
  SetIndexArrow(4, 108);
  SetIndexBuffer(5, buf5);
  SetIndexStyle(5, DRAW_ARROW, STYLE_SOLID, 0, DarkOrange);
  SetIndexArrow(5, 108);
  SetIndexBuffer(6, buf6);
  SetIndexStyle(6, DRAW_ARROW, STYLE_SOLID, 0, Red);
  SetIndexArrow(6, 108);
  SetIndexBuffer(7, buf7);
  SetIndexStyle(7, DRAW_ARROW, STYLE_SOLID, 0, FireBrick);
  SetIndexArrow(7, 108);
  return (0);
}

int deinit() {
  return (0);
}

int start() {
  int i;
  ArrayResize(val,Bars);
  for(i = 0; i < Bars ; i++) {
  val[i] = iADX(Symbol(), 0, 14, PRICE_CLOSE, MODE_MAIN, i);
  }
  for(i = Bars-3; i >= 0 ; i--) {
     buf0[i] = EMPTY_VALUE;
     buf1[i] = EMPTY_VALUE;
     buf2[i] = EMPTY_VALUE;
     buf3[i] = EMPTY_VALUE;
     buf4[i] = EMPTY_VALUE;
     buf5[i] = EMPTY_VALUE;
     buf6[i] = EMPTY_VALUE;
     buf7[i] = EMPTY_VALUE;
     if (val[i] >= 0) buf0[i] = 0;
     if (val[i] >= 15) buf1[i] = 0;
     if (val[i] >= 25) buf2[i] = 0;
     if (val[i] >= 40) buf3[i] = 0;
     if (val[i] >= 50) buf4[i] = 0;
     if (val[i] >= 60) buf5[i] = 0;
     if (val[i] >= 70) buf6[i] = 0;
     if (val[i] >= 80) buf7[i] = 0;
  }
  return (0);
}

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  • 2 weeks later...

Re: Trend Status Indicator

 

I am planning to post my complete system very soon please be patient because I am compiling things :) I just try to tweak it into arrow signals on chart when conditions meet. Please wait ;) Ah the link is working, I just confirmed that :)>-

 

Hi dreamy,

 

I'm really interested to know about your system with this premium ADX ind. Hope to learn about it from you soon.

 

cheers,

 

:)

All that is necessary for evil to triumph is for good men/women to do nothing. Sharing is caring
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  • 1 year later...

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