ADX Range Filter

เมื่อวานซืน

This indicator calculates the ADX with customizable smoothing and DI lengths. The ADX is plotted as an area chart that changes color based on a user-defined midline:

Orange Area: Strong trend (ADX above midline).
Blue Area: Weak trend or range (ADX below midline).
A white midline is also plotted for easy reference.

Key Features:

Adjustable ADX Smoothing, DI Length, and Midline.
Clear area chart visualization of ADX.
Dynamic color coding for quick trend assessment.

Uses for Traders:

Filter Trades: Avoid trend-following trades in ranging markets (ADX below midline) and focus on stronger trends (ADX above midline).
Confirm Trend Strength: Use ADX to confirm trend strength before entering trades, especially when combined with other indicators.
Adapt to Market Conditions: Adjust trading strategies based on the ADX reading (trend-following in strong trends, range-bound in weak trends).
Identify Actively Traded Assets: The default DI of 10 is better suited to identifying trends in actively traded assets.

Disclaimer:

The ADX Range Filter is a tool to aid in trading decisions, not a standalone solution. Combine it with other analysis methods, risk management, and a solid trading plan. Past performance does not guarantee future results.