All ADX Dashboard Metatrader 4 Forex Indicator
The All ADX Dashboard Metatrader 4 forex indicator displays ADX (invented by Wilder) for 7 different time frames.
This makes it easy for anyone one to check the ADX trend across multiple time frames before making a buy or sell trade decision.
Supported time frames: 15-minute, 30-minute, 1-hour, 4-hour, day, week and month.
ADX consists of 3 components; DI+ (green line), DI- (red line) and trend strength line (yellow line).
The crossover of the DI+ green signal line and DI- red signal line creates a simple trend trading system.
A buy signal occurs when DI+ crosses above DI+ from below.
A sell signal occurs when DI- crosses above DI+ from below.
The default ADX period is set to 14 but can be adjusted to whatever period you need.
The EUR/USD 15-Minute chart below displays the All ADX Dashboard Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the All ADX Dashboard MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the green DI+ signal line crosses back above the red DI- signal line from below.
Sell Signal: Open sell trade when the red DI- signal line crosses back above the green DI+ signal line from below.
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (ADX period, Show higher time frames, Bars per time frame) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the all-adx-indicator.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)