Trading libraries for MetaTrader 5
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MetaTrader 5
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Overview
At its most basic, the "Average Directional Movement Index Wilder" (ADXW) can be used to determine if a security/index/currencie is trending or not. This determination helps traders choose between a trend-following system or a non-trend-following system. Wilder suggests that a strong trend is present when ADXW is above 25 and no trend is present when ADXW is below 20. There appears to be a gray zone between 20 and 25. ADXW also has a fair amount of lag because of all the smoothing techniques. Many technical analysts use 20 as the key level for ADXW.
The ADXW indicator paints a blue arrow on the chart if the ADXW exceeds level 20 and notifies you by email, audible
alerts, and push notifications. Also, if the indicator continues to rise it paints a green thumbs up.
Instead,
if the ADXW indicator drops below level 20 it paints a red arrow on the chart and notifies you by email, audible alerts and push notifications.
- Right Value ADXWilder: Period for calculating the ADX Wilder base line (Indicator Buffer).
- Period ADXW: Averaging period for calculating the ADX Wilder base line.
- Shift: ADXWilder shift. Default: 0
- Alert: Enable/disable Alert. If true - enabled, false - disabled.
- Email: enable/disable sending e-mails: If true - enabled, false - disabled.
- Push: enable/disable sending messages to the mobile terminal: If true - enabled, false - disabled.
- Arrow size: Size of arrows on the chart (1 to 5).
- Strong ADXW: Blue.
- Weak ADXW: Red.
- ADXW Rising: Green.
It works on any graph, on all timeframes.
