ADXm_ANG
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This script is a technical analysis tool designed for the MetaTrader platform to help traders measure the strength and direction of market trends. Rather than simply showing you whether a price is going up or down, this indicator focuses on how "aggressively" the market is moving and identifies when a trend is gaining momentum or losing steam.
Core Logic and Functionality
The logic operates by analyzing three primary components of price action: the highest high, the lowest low, and the closing price over a specific period of time (defined by the user). By comparing these points, the script calculates the following metrics:
1. Trend Directionality The script determines which "side" of the market is currently stronger—the buyers or the sellers. It measures the difference between the high and low prices to calculate a directional value. If the upward movement is more significant than the downward movement, it identifies bullish pressure; if the downward movement is more dominant, it identifies bearish pressure.
2. Trend Strength (ADX) One of the primary outputs of this script is a smoothed representation of trend intensity. It calculates the magnitude of price movement and converts it into a percentage-based oscillator. This allows traders to see at a glance whether the current market activity is part of a powerful, sustained trend or if the market is moving sideways in a choppy, indecisive manner.
3. Signal Smoothing To prevent the data from appearing "jittery" or reacting too violently to single price fluctuations, the script employs a smoothing technique. It calculates a weighted average of previous movements, ensuring that the visual lines on your chart represent consistent trends rather than temporary noise.
4. Peak Detection The script includes logic to identify specific turning points in trend strength. It tracks whether the trend intensity is currently rising or falling and marks significant "peaks" where the momentum has reached a maximum point before starting to reverse.
Visual Indicators
When you view this tool on your chart, it provides several distinct data points:
- Movement Direction: Clear lines showing the relative strength of upward vs. downward pressure.
- Trend Intensity: A primary line representing the overall "power" of the current move.
- Dynamic Thresholds: The script automatically plots horizontal levels (positive and negative) to act as boundaries. These help traders set targets or identify when a trend has become overextended relative to its baseline.
Summary for the Trader
In short, this tool is designed to filter out the "noise" of the market. It tells you how strong a move is and which direction it is favoring, helping you distinguish between a significant trend that should be traded and a weak price fluctuation that might be best ignored.
//-------ANG3110@latchess.com-------
//****************************************
#property indicator_separate_window
#property indicator_buffers 5
#property indicator_color1 LightSlateGray
#property indicator_color2 DodgerBlue
#property indicator_color3 SandyBrown
#property indicator_color4 Lavender
#property indicator_color5 Lavender
#property indicator_width2 2
#property indicator_width3 2
#property indicator_style4 2
#property indicator_style5 2
#property indicator_level1 0
//=====================================
extern int p=14;
extern int Level=25;
//=====================================
double ADX[],ADXL[],DI[],levh[],levl[];
double dh,dl,tr,H,L,num1,num2,num3,dhk,dlk,div;
double zdh,zdhp,zdl,zdlp,zdx,zdxp,zdhl,si;
double temp,ki;
int fs,fss,ti;
//*********************************************************
int init()
{
IndicatorShortName("ADXm "+"("+p+")");
//--------------------
SetIndexBuffer(0,DI);
SetIndexBuffer(1,ADX);
SetIndexBuffer(2,ADXL); SetIndexEmptyValue(2,0.0);
SetIndexBuffer(3,levh);
SetIndexBuffer(4,levl);
//--------------------
return(0);
}
//*********************************************************
int start()
{
int cbi,IC=Bars-IndicatorCounted()-1;
if (IC<10) cbi=IC; else
{
cbi=Bars-2;
ki=2.0/(p+1);
ADX[cbi+1]=0.0; ADXL[cbi+1]=0.0;
zdhp=0.0; zdh=0.0; zdlp=0.0; zdl=0.0; zdxp=0.0; zdx=0.0;
ti=Time[cbi]; fs=0; fss=0;
}
//-------------------------------------------------
for (int i=cbi; i>=0; i--)
{
if (ti!=Time[i]) {zdhp=zdh; zdlp=zdl; zdxp=zdx; ti=Time[i];}
H=High[i]; L=Low[i];
dh=H-High[i+1];
dl=Low[i+1]-L;
if(dh<0) dh=0;
if(dl<0) dl=0;
if(dh==dl) {dh=0; dl=0;} else if(dh<dl) dh=0; else if(dl<dh) dl=0;
num1=MathAbs(H-L);
num2=MathAbs(H-Close[i+1]);
num3=MathAbs(L-Close[i+1]);
tr=MathMax(MathMax(num1,num2),num3);
if(tr==0) {dhk=0; dlk=0;} else {dhk=100.0*dh/tr; dlk=100.0*dl/tr;}
zdh=zdhp+(dhk-zdhp)*ki;
zdl=zdlp+(dlk-zdlp)*ki;
zdhl=zdh-zdl; DI[i]=zdhl;
div=MathAbs(zdh+zdl);
if(div==0.00) temp=0; else temp=100*(MathAbs(zdhl)/div);
if (zdh>zdl) fs=1;
if (zdh<zdl) fs=2;
if (fs==2) temp=-temp;
zdx=zdxp+(temp-zdxp)*ki;
ADX[i]=zdx;
if (ADX[i]>ADX[i+1]) fss=1;
if (ADX[i]<ADX[i+1]) {if (fss==1) ADXL[i+1]=ADX[i+1]; fss=2;}
if (fss==2) ADXL[i]=ADX[i]; else ADXL[i]=0.0;
levh[i]=Level;
levl[i]=-Level;
}
return(0);
}
//******************************************************************
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