Average Directional Movement Index Based on Book
This indicator is the index of the average directed motion, which is calculated using the formula in the book Welles Wilder's "New Concepts in Technical Trading Systems". for MT4 indicator uses a different formula, which leads to different results.
Options
- DMILength: Periods for calculating the Average Directional Movement Index.
- ShowADX: Specify the value True to display the ADX line on the display.
- ShowADXR: Specify the value True to display the ADXR line in the display.
To have a complete picture of the display, I recommend reading the book to the Welles Wilder's "New Concepts in Technical Trading Systems".
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