Discussing the article: "MQL5 Wizard Techniques you should know (Part 42): ADX Oscillator"
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Check out the new article: MQL5 Wizard Techniques you should know (Part 42): ADX Oscillator.
The ADX is another relatively popular technical indicator used by some traders to gauge the strength of a prevalent trend. Acting as a combination of two other indicators, it presents as an oscillator whose patterns we explore in this article with the help of MQL5 wizard assembly and its support classes.
The ADX indicator is an oscillator that is meant to measure how strong a given trend in the market is for the security to which it is attached. This article thus, like some that were preceding it, examines the various patterns exhibited by this indicator in a custom signal class file, for wizard assembled Expert Advisors. We review one pattern at a time as we have in the previous articles covering RSI, Bollinger Bands, and the RSI and then conclude with a test that includes all patterns to get a sense of which has the highest weighting.
Before we start on this, though, we had not wrapped-up the look at the parabolic SAR, and so we begin by covering the concluding chapters to that.
Author: Stephen Njuki