Monday, February 20, 2006
Tinkering on President's Day: ADX Template Tweak
Please, someone eliminate ALL market holidays!! Too much time is a very serious liability for a market tinker (wink wink nudge nudge).
I've done some tweaking of the
ADX with Alerts template.. In addition to adding two more templates, I've included a few more comments here and there, so it may be worth a quick read.
My favorist tweak is ADX with Alerts, Version2, for the minimalist. It shows the Buy and Sell signals but replaces all the indicator lines with a "Chopzilla Band" that is White for Trending, Red for No Trend, and Orange Hash Overlay when ADX is below both DMI values. The later is for the trader that wants only the best signals. I can't vouch for how effective it is, however.
Here is the minimalist chart
I've also included Version 1, which I think of as for the technician that likes to see *everything*:
--Normalizes the sub-window to a 0-100 scale.
--Adds near-background colored DMI value displays.
--Adds a pale orange band when ADX is below the DMI values
--*Does not* show Buy and Sell signals when ADX is below 20.
The Normalization and DMI line displays are style preferences and easily removed with simple clicks on the topmost DMI study pane. The ADX>DMI and removal of signals are, IMO, keepers.
Labels: ensign, indicators, trading-method
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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