FILTER_ADX_AM_ch – indicator for MetaTrader 5
Real author: Andrey Matvievskiy
A simple trend indicator based on the smoothed Average Directional Movement Index drawn in the main chart window. The uptrend is marked by a lime dot, if the plus line of ADX is above its minus line. The dot is red if the position of the lines is the opposite. A large dot with a growing ADX is an indication of trend strengthening. A small dot with a falling ADX indicates its weakening.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 22.07.2009.
Fig1. The FILTER_ADX_AM_ch indicator