Best ADX for 4 H Cryptocurrency Chart
Adding MT4 ADX Cryptocurrency Chart Indicator
Step 1: Open the Navigator Window on BTCUSD Trading Platform
Open Navigator panel as illustrated and shown below: Navigate to 'View' menu (click it) & then select 'Navigator' panel window (click), or From Standard Tool-Bar click 'Navigator' button or press key-board short-cut keys 'Ctrl +N'
On the Navigator window, choose 'Technical Indicators', (Double Press)
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Adding ADX MetaTrader 4 Indicator
Expand expand button (+) or doubleclick the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the ADX indicator from this list of bitcoin indicators so that to add the ADX indicator on the bitcoin chart.
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How to Add Custom ADX BTCUSD Indicator on MT4 Platform
If the ZDX bitcoin technical indicator you as the trader want to add is a custom indicator - for example if the ADX technical indicator you want to add is a custom ADX indicator you will need to first add this custom ADX indicator in MetaTrader 4 software and then compile custom ADX indicator so that the newly added ADX custom technical indicator appears on the list of custom technical indicators on the MetaTrader 4.
To learn how to install ADX indicators on MT4, how to add ADX indicator window panel to MT4 & how to add ADX custom trading indicator on MetaTrader 4 - How to add custom ADX bitcoin Indicator in MT4.
ADX Indicator Described
ADX BTCUSD Analysis and ADX Bitcoin Signals
ADX indicator is a momentum indicator used to figure out the strength of bitcoin price trend: ADX technical indicator is derived from the DMI - Directional Movement Index which has 2 lines.
+DI - Positive Directional Movement Index
–DI - Negative Directional Movement Index
ADX is calculated by subtracting these 2 values and applying a smoothing function.
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The ADX is not a directional bitcoin technical indicator but a measure of the strength of the bitcoin price trend which has a scale of Zero to 100.
The higher the ADX technical indicator reading the stronger the trend.
ADX value of below 20 demonstrates that the bitcoin price is not trending but heading in a range.
ADX value of above 20 confirms a buy or sell bitcoin signal and indicates a new bitcoin trend is emerging.
Values above 30 signifies a strong cryptocurrency trend.
When ADX turns downwards from above 30, it signals that the prevailing bitcoin trend is losing momentum.
ADX combined with DMI Technical Indicator
Since the ADX alone is a directionless indicator it is combined with the DMI index to determine the direction of the bitcoin price trend.
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ADX and DMI Index
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When the ADX is combined with DMI index a trader can figure out the direction of the bitcoin trend and then use the this ADX indicator to determine the momentum of the prevailing bitcoin trend direction.
ADX Bitcoin Analysis and How to Generate Trade Signals
Buy BTCUSD Crypto Signal
A buy bitcoin signal is generated when the +DI is above –DI, and the ADX technical indicator is above 20
The Exit bitcoin crypto currency signal is generated when the ADX trading indicator turns down from above 30.
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Sell BTCUSD Signal
A sell bitcoin signal is generated when the –DI is above +DI, & the ADX trading indicator is above 20
The Exit bitcoin crypto currency signal is generated when the ADX indicator turns down from above 30.
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