The Advanced ADX indicator for Metatrader 5 is built on the Average Directional Movement Index formula and can be used as a buy/sell technical tool.
Scalpers and intraday traders will get the best results during the London and New York trading hours when using the Advanced ADX indicator.
The ADX bar histogram has two colors to determine the buying and selling state:
- A blue colored trend histogram bar is bullish.
- An orange colored trend histogram bar is bearish.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
The Advanced ADX indicator supports all possible time frames and trading instruments supported by the MT5 trading platform.
Configurable parameters and input settings: ADX period, ADX significant level (20.0).
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Advanced ADX.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Advanced ADX indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Advanced ADX Indicator?
Find a simple trading example below:
Buy Signal
- The first blue colored advanced ADX bar shows a bullish trend reversal and gives a buy signal.
- Execute a buy trade and add a stop loss below the most recent swing low level.
- Exit the buy trade for a fixed take profit or wait for the first orange colored ADX bar.
Sell Signal
- The first orange colored advanced ADX bar shows a bearish trend reversal and gives a sell signal.
- Execute a sell trade and add a stop loss above the most recent swing high level.
- Exit the sell trade for a fixed take profit or wait for the first blue colored ADX bar.
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Advanced ADX.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Advanced ADX.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration