ADX Index Rating Forex Indicator For Metatrader 5
The ADX Index Rating Forex indicator measures and displays trend strength of any currency pair.
The indicator appears in a sub-window below the main trading window and gives you a great visual overview of how trend strength behaves over a certain time period.
Interpret ADX values as follows:
- Trend strength is strong when the ADX Index Rating value is high.
- Trend strength is weak when the ADX Index Rating value is low.
Please note that you will need to combine this indicator with other technical indicators and/or price action to construct a complete trading strategy.
The indicator itself does not generate any buy/sell signals.
Feel free to experiment with the indicator’s different inputs parameters and values.
Deploy the ADX Index Rating indicator on any currency pair, stocks, indices, Gold,…
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ADX Index Rating Forex Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 5 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With ADX Index Rating Forex Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy order when the overall trend is up and the ADX Index Rating Forex indicator rises back above the value 30 from below.
Place stop loss 3 pips below support, or use your own stop loss placement method.
Exit the buy trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 35 pips on the 15 min day trading chart.
Sell Trigger: Open a sell order when the overall trend is down and the ADX Index Rating Forex indicator rises back above the value 30 from below.
Place stop loss 3 pips above resistance, or use your own stop loss placement method.
Exit the sell trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 75 pips on the 1-hour swing trading chart.
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ADX period, difference, applied price, colors, width, style.
The indicator can’t be used as a stand-alone signals indicator.
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT5
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: ADX
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.