The "Directional Movement Index [HeegerBot]" is an evolved version of the classic ADX (Average Directional Movement Index) that measures the strength and direction of trends. This indicator has been customized to offer a broader view of market dynamics, incorporating the ADX, DI+, DI-, DX, and ADXR into one panel. It allows traders to select the desired moving average type for the calculations, making it more adaptable to various trading strategies.
- ADX: Represents the strength of the current trend regardless of its direction.
- DI+ and DI-: Indicate trend direction. DI+ shows the strength of the upward movement while DI- indicates the strength of the downward movement.
- DX: Represents the difference between DI+ and DI-.
- ADXR: Is an average of the current ADX and a specific number of previous periods of ADX, offering a smoothed perspective.
- Flexibility: Users can select the type of moving average used in the calculations, including SMA, EMA, WMA, and others.
- Level 32: An added reference level to assist traders in identifying stronger market conditions.
- Type: Free
- Language: C#
- Trading Platform: cTrader Automate
- Filename: ADX HeegerBot.algo
- Rating: 0
- Downloads: 239