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Tuesday, November 22, 2005 5:12:30 PM
This is one of my favourite indicators, along with ChiOsc and CMF. It's a trend indicator, and I rely on it fully.
From StockCharts....
"ADX is an oscillator that fluctuates between 0 and 100. Even though the scale is from 0 to 100, readings above 60 are relatively rare. Low readings, below 20, indicate a weak trend and high readings, above 40, indicate a strong trend. The indicator does not grade the trend as bullish or bearish, but merely assesses the strength of the current trend. A reading above 40 can indicate a strong downtrend as well as a strong uptrend."
Worth noting is when the Trend is strong but the Green ADI line is travelling underneath, slips down below, the ADX line, signalling possible weakness ahead. I just love this indicator.
A good example of ADX working, and an overheated leading indicator system, including an RSI+70 run, is demonstrated below by the guys who make the xBOX for our games to go in....
fringe
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VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
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Cannabix Technologies and Omega Laboratories Inc. enter Strategic Partnership to Commercialize Marijuana Breathalyzer Technology • BLO • May 16, 2024 8:13 AM
Avant Technologies to Revolutionize Data Center Management with Proprietary AI Software Platform • AVAI • May 16, 2024 8:00 AM
