LBR_SmartADX

Description

The SmartADX study is a modification of the regular Average Dircetional Index (ADX), which can be read as an oscillator. SmartADX comprises two levels that are used to analyze the behavior of the average plot.

Level 1 is the lower level; when ADX values fall below it, the ADX plot is shown in a different color (red by default), which is considered to signify a weak trend. By default, this level is placed at 15%.

Level 2 is the higher level; when ADX values rise above it, the ADX plot changes its color (to green by default), indicating a strong trend. By default, this level is set to 30%.

Input Parameters

Parameter Description
length The number of bars used to calculate ADX.
level1 The percentage corresponding to the lower level.
level2 The percentage corresponding to the higher level.

average type

The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.

Plots

Plot Description
ADX The ADX plot.
Level1 The lower level plot.
Level2 The higher level plot.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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