Let's find out MTF ADX – EA helps measure multi-time frame trend strength thanks to the Average Directional Index indicator.
Introducing MTF ADX
Average Directional Index also abbreviated ADX is a popular technical indicator used to evaluate the strength of a trend.
ADX ranges from 0 to 100. A reading below 20 represents a weak trend and a reading above 50 represents a strong trend.
Unlike Stochastic, the indicator does NOT determine buying and selling trends, it simply does measures the strength of the current trend. Therefore, the indicator is often used to determine whether the trend continues or starts a new trend.
MTF ADX on MT5 chart
Input parameters for MTF ADX
ADX Timeframe: choose the time frame to draw ADX
ADX Period: number of periods to calculate ADX
Data Buffer for use in GigaFactory.
Simple, easy to use
Use on the MT5 FXCE platform
This Indicator/EA is provided for free.
All trading and exchange activities in any form are not allowed.
FXCE not responsible If money is lost during use.
Download the latest version here.
- Copy file “*.ex5" to folder /MQL5/Indicators/