The ADX Indicator is known to be used to determine the trend direction. Not only that, but it also has deviation (+DI and -DI) that determine the direction of the trend as well.
The role of the indicator is to spot the trend and its direction and generate signals accordingly.
Indicator Settings:
- ADX period : default is 14 periods (it works best with the timeframe H1).
- Signal Width : the size of signals arrows.
- Signal Distance : the distance of the signal arrow from the candle.
- Signal colors : the signal arrows colors for the buy signal and sell signal.
- Alert : choose whether to get an alert when there is a signal or not.
- Comment : choose whether to show the last signal (Buy or Sell), and its running profit.
