Hull_Style_ADX_v2
Download script
This technical indicator is designed to provide traders with a more responsive and refined view of market momentum and trend strength compared to standard moving average models. It operates by blending the principles of the Average Directional Index (ADX) with a specialized smoothing calculation, aimed at reducing "market noise" while maintaining high sensitivity to price movements.
Core Logic and Mechanics
The script functions through a multi-layered processing system that breaks down market data into four distinct components:
1. Dynamic Momentum Calculation Instead of using a standard ADX period, the tool employs a unique mathematical approach where it compares a shorter, faster-moving timeframe (half of the primary user-defined period) against the longer primary period. By doubling the value of this faster input and subtracting the slower one, the script creates a "difference" value. This highlights sudden shifts in momentum that might otherwise be buried in larger data sets.
2. The Hull-Style Smoothing To ensure that these momentum shifts are readable and not erratic, the primary ADX line undergoes a specific smoothing process. It uses a weighted moving average calculation (LWMA) to "iron out" the fluctuations. This provides a cleaner visual path, allowing traders to see the underlying trend direction without the jagged edges typically found in raw market data.
3. Directional Intensity (Plus and Minus Di) The tool also calculates two specific directional lines:
- Plus-Di: Measures the strength of upward price movement.
- Minus-Di: Measures the strength of downward price movement. Like the main ADX, these are also processed using the "double-difference" logic mentioned above. This allows users to see not just if the market is moving, but specifically which direction that energy is flowing with the most intensity.
Visual Representation
The indicator populates a separate window below the main price chart, providing four distinct lines:
- A primary smooth trend line (the "Hull-style" ADX).
- A secondary smoothed ADX mode.
- An optimized Plus-Di line for tracking bullish momentum.
- An optimized Minus-Di line for tracking bearish momentum.
By utilizing these refined calculations, the script aims to provide a clearer picture of whether a trend is accelerating, decelerating, or reversing, helping users identify high-probability entries by watching the divergence between directional strength and overall market momentum.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Hull_Style_ADX_v2.mq4 |
//+------------------------------------------------------------------+
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 White
#property indicator_color2 LightSeaGreen
#property indicator_color3 LimeGreen
#property indicator_color4 Red
//---- indicator parameters
extern int ADX_Period = 14;
extern int Applied_Price = 0; // 0 Close , 1 Open , 2 High , 3 Low , 4 Median , 5 Typical , 6 Weighted
extern int Ma_Of_Adx = 8;
extern int MaOfAdx_Shift = 0;
extern int Ma_Method = 3; // 0 sma, 1 ema, 2 smma, 3 lwma
extern int LineWidth = 1;
//---- indicator buffers
double MaBuffer[];
double finaladxbuffer[];
double finalplusdibuffer[];
double finalminusdibuffer[];
int draw_begin0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator buffers mapping
//---- drawing settings
draw_begin0 = ADX_Period+MathFloor(MathSqrt(ADX_Period));
SetIndexEmptyValue(0,0.0000);
SetIndexStyle(0,DRAW_LINE,STYLE_DOT,LineWidth);
SetIndexBuffer(0,MaBuffer);
SetIndexLabel(0,"ADX mode 0");
SetIndexDrawBegin(0,draw_begin0);
SetIndexEmptyValue(1,0.0000);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,LineWidth);
SetIndexBuffer(1,finaladxbuffer);
SetIndexLabel(1,"ADX mode 1");
SetIndexDrawBegin(1,draw_begin0);
SetIndexEmptyValue(2,0.0000);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,LineWidth);
SetIndexBuffer(2,finalplusdibuffer);
SetIndexLabel(2,"Plus-Di mode 2");
SetIndexDrawBegin(2,draw_begin0);
SetIndexEmptyValue(3,0.0000);
SetIndexStyle(3,DRAW_LINE,STYLE_SOLID,LineWidth);
SetIndexBuffer(3,finalminusdibuffer);
SetIndexLabel(3,"Minus-Di mode 3");
SetIndexDrawBegin(3,draw_begin0);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("Hull_Style_ADX_v2("+ADX_Period+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
int limit,i,shift;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<1)
{
for(i=1;i<=draw_begin0;i++) { MaBuffer[Bars-i]=0; finaladxbuffer[Bars-i]=0; finalplusdibuffer[Bars-i]=0; finalminusdibuffer[Bars-i]=0; }
}
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//-----------------------------------------------------------------------------------------------------------------
for(i=0; i<limit; i++)
{ finaladxbuffer[i] = (iADX(Symbol(),0,MathFloor(ADX_Period/2),Applied_Price,MODE_MAIN,i)*2) - iADX(Symbol(),0,ADX_Period,Applied_Price,MODE_MAIN,i); }
for(i=0; i<limit; i++)
{ MaBuffer[i] = iMAOnArray(finaladxbuffer,0,Ma_Of_Adx,MaOfAdx_Shift,Ma_Method,i); }
//-----------------------------------------------------------------------------------------------------------------
for(i=0; i<limit; i++)
{ finalplusdibuffer[i] = (iADX(Symbol(),0,MathFloor(ADX_Period/2),Applied_Price,MODE_PLUSDI,i)*2) - iADX(Symbol(),0,ADX_Period,Applied_Price,MODE_PLUSDI,i); }
//-----------------------------------------------------------------------------------------------------------------
for(i=0; i<limit; i++)
{ finalminusdibuffer[i] = (iADX(Symbol(),0,MathFloor(ADX_Period/2),Applied_Price,MODE_MINUSDI,i)*2) - iADX(Symbol(),0,ADX_Period,Applied_Price,MODE_MINUSDI,i); }
//-----------------------------------------------------------------------------------------------------------------
//---- done
return(0);
}
Comments