ATR + ADX Expansion

vor 6 Stunden

This script plots in real time a shorter period ATR compared to a longer period ATR allowing one to see if the market has above or below average volatility. This helps avoid choppy sideways markets.

Secondly, the table shows whether ADX is expanding above its signal line, or contracting below it's signal line further identifying a market in expansion or contraction.

Any set up must be deployed in a healthy market environment, this indicator measures core statistics in real time to allow you see at a glance what state the market is in.

vor 5 Stunden

Versionshinweise

This update clarifies optimal conditions. If the ATR is expanding above its long term average in the short term, and the ADX is above it's signal line, we get market expansion and a healthy environmet in which to trade.

Mixed signals lead to either a Chop, or Neutral reading, and the market in these conditions is more likely to lead to choppy conditions