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ThemBonez Comparative ADX
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=20428
Forum: 17 · Topic 20428 · 4 post(s)
ThemBonez Comparative ADX
Nikolay.Gekht · Wed Jun 20, 2012 11:47 am
ThemBonez wrote: Investing many approaches using a spreadsheet to track values over the last week, I believe I have solved my Comparative Relative Strength problem in a way that I believe simplifies things greatly.
Using the ADX, Divide the currency pair’s ADX by the average ADX of the 5 major pairs (EURUSD, GBPUSD, AUDUSD,USDJPY and USD CAD) [I left out USDCHF cause it is historically an inverse of EURUSD.]
Formula: Current ADX / Average ADX (EURUSD,GBPUSD,AUDUSD,USDJPY,USDCAD)
Then chart that value as an oscillator. Anything over a 1 is a stronger trend than the average…anything below 1 is a weaker trending pair. Also, looking at the currency pair of the strongest to the weakest reveals very strong trends. i.e if the GBPUSD comparitive Relative strength is a 1.5 and the USDJPY is a .5…..looking at the GBPJPY reveals a very strong trend.
It seems to work on any timeframe.
Download:
The indicator was revised and updated
Re: ThemBonez Comparative ADX
Apprentice · Tue Oct 15, 2013 2:08 am
Bump Up
Re: ThemBonez Comparative ADX
Alexander.Gettinger · Fri Sep 12, 2014 3:34 pm
MQL4 version of oscillator: viewtopic.php?f=38&t=61131.
Re: ThemBonez Comparative ADX
Apprentice · Thu Jun 29, 2017 5:43 am
The indicator was revised and updated.