The "ORTI Average Directional Index (Static Timeframe Multi-Period)" is now a public script, based into an existing study named "Average Directional Index", but with some better functions about time frame and its measurament. As a redesigned and recalculated set of the common plotted average, a technical analysis metric.
The cherry on the top for this version is, when you want to get a predetermined count in (ranges) units of time, as: minutes, hours or days, in any graph you could get a static average, and this count will be automatically respected. For example, an average could be configurated to know a trend per day, week or month... or whatever comes to mind, and at every single chart that you move through (5m, 15m, 1h, 4h, etc), you will see the same average to make your own "trend analysis" into a micro/macro market view.
But now, with the option to convert the "Simple Moving Average" to adapt into 9 different kinds of "Moving Averages", to have a much more robust indicator which in turn would serve both as "Bollinger Bands" and by any of the most used "Moving Averages", a hybrid basically.
The following options to convert the "Simple Moving Average" ( SMA ) to: • Double Exponential Moving Average ( DEMA ) • Exponential Moving Average ( EMA ) • Hull Moving Average ( HMA ) • Least Square Moving Average ( LSMA ) • Running Moving Average ( RMA ) • Smoothed Moving Average ( SMMA ) • Volume-weighted Moving Average ( VWMA ) • Weighted Moving Average ( WMA )
The Average Directional Index ( ADX ) along with the Negative Directional Indicator ( -DI ) and the Positive Directional Indicator ( +DI ) are momentum strength indicators that evolved for use in stock trading. Commodities trader J. Welles Wilder pioneered their use. Technical traders who use charting techniques want to know when first spotting a shifting trend how strong that trend is and how likely it is to sustain itself over time. The ADX helps investors determine trend strength as they plan their investment strategies.
For more technical information look at Investopedia.
Note: The previous calculation example is not the default, the parameters can be adjusted according to the criteria of the merchant.
Notas de prensa
⋅
New features regarding the latest crosses or milestones of the indicator with respect to price action.