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jpatrell
Posted : Wednesday, January 5, 2005 9:25:02 PM
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Joined: 12/30/2004
Posts: 1
Is this an Advance/Decline indicator? Please help. JoeP
dlatka
Posted : Wednesday, January 5, 2005 10:37:11 PM
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Joined: 12/26/2004
Posts: 4
QUOTE (jpatrell)
Is this an Advance/Decline indicator? Please help. JoeP


The ADX (Average Directional Index) oscillator fluctuates between 0 and 100. Readings above 60 are relatively rare. Readings below 20 indicate a weak trend, while readings above 40 indicate a strong trend. The indicator does not determine the trend as bullish or bearish. It instead assesses the strength of the current trend. I.E. Readings above 40 can indicate a strong upward or downward trend.

You can also use it to identify potential changes in a chart from trending to non-trending. Many use the ADX crossing from below 20 to above 20 as a sign that the trading range is ending and new trend is developing.
mark6561
Posted : Saturday, January 8, 2005 11:55:24 AM
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Joined: 12/11/2004
Posts: 3
There are several places to learn about ADX.

1. Alexander Elders book “Trading for a Living,” is a good source.
2. “New Concepts In Technical Trading Systems”, written in 1978 by Wilder.

One usually uses ADX in conjunction with +DI and –DI, ADX (Average Directional Index). Developed by Wilder, ADX is derived from these two other indicators.

See Tradeon.com for the programming details for TC2000.

http://www.tradeon.com/tradeon/tc2000/misc.html

(edited by Moderator)
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