Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
The indicator is a modified ADX that calculates the selected period set by the user in a static way.
It also creates a dynamic target within the indicator itself to assess the level of momentum or strength of the movement, providing a great opportunity for trading.
This means that when a buy or sell arrow appears on the chart, you should immediately take the trade, because the modified ADX condition indicates there is momentum aiming to extend the candle’s movement.
For this reason, the trade should be executed on the same candle when the arrow appears.
It can be used for scalping and binary options due to its high signal accuracy.
In the settings, you have the option to define the ADX period. The shorter the period, the more signals will occur.
A small delay in issuing the signal may occur, but this is not an error. The indicator first checks if there is a momentum strong enough to continue the movement, so the arrow will only appear when the condition within the already opened candle is met.
In the settings, there is also the option to define the time you want the signals to start showing on the chart, as well as the option to determine when the signals should stop being emitted.
