How to set ADX indicator in mt4 chart - Forex Function
How to set ADX indicator in mt4 chart
Last Update: 19 February,2015
ADX (Average Directional Movement Index) is a trading indicator which indicates the strength of the market trend. This ADX consists of two indicators such as Minus Directional Indicator (-DI) and Plus Directional Indicator (+DI). Combination of these two indicators gives idea about the strength and direction of the market price. 25 level is used in this indicator to measure the trend strength. Above 25 level ADX indicates trend strength and below 25 level, it indicates trend weakness.
In this tutorial, you will learn:
(1)how to set ADX indicator on your chart,
(2)how to customize its parameters,
(3)how to remove ADX indicator from mt4 chart.
How to set ADX indicator
First open mt4 platform and open any chart. Click on ”Insert”. Then click on ”Indicators” and ”Trend”. You will see your desired ADX indicator. Then click on ”Average Directional Momentum Index” .
How to customize its parameter
You will get new window to customize different parameters of ADX indicator. In ”Parameters” tab, you can change ”Period” option. You can use 14 on ”Period” box. You can set ”Apply to” option as ”close”. Here you can change the color and width of ADX indicator.
In ”Colors” tab, you can change the color of (+DI) and (-DI). You can change width of these indicators from this tab.
In ”Levels” tab, you can add level on ADX indicator. You need to click on ”Add” and you can put value on level. You can add 25 level on ADX. You can change the color and style of the level from this tab.
Thus you will get ADX indicator on your chart. Here 25 level is used to identify strength of the trend. Here color of ADX is LightSeaGrean, color of (+DI) is Yellowgreen and color of (-DI) is Red.
How to delete ADX indicator from chart
You can delete this ADX indicator from your chart. You need to move your mouse on the indicator and press on ”Right-button”. New window will be appeared. Then click ”Delete Indicator Window”. Thus ADX indicator will be disappear from your chart.
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