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Zig Zag Buy Sell Support and Resistance with ADX & RIBBON
OUR NEW TECHNICAL
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Mokans
NSE/MCX Trading System
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TECHNICAL CHART with CONFORMATION TOOLS
[Overlay and Underlay]
MAIN
CHART > Zig Zag Buy Sell Support and Resistance
CHART >
Candlestick - GREEN-Up Trend
RED-Down Trend
BLUE-Sideway Movement.
CONFIRMATION
TOOL >>>
OVERLAY > 1. Zig Zag Trend Line - Green and
Red
2. Buy Sell Arrow-Green
and Red
3. Support and resistance –
Red and Green
4. DOT High and Low –
Green and Red
UNDERLAY > ADX WITH RIBBON
I have
customized by the ADX Standard Day,
Week, Month Label from the side and below
the Ribbon
added to the strength of the
trend is likely to occur.
INDICATOR >
ADX
GREEN
LINE – Up Trend
RED
LINE – Down Trend
WHITE/YELLOW
LINE - Trend Confirmation
INDICATOR > RIBBON
GREEN
LINE – Up Trend
RED
LINE – Down
Trend
GREY
WHITE - Sideway Movement
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# LEARN and TRADE #
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Underlay Indicator ADX
The Average Directional Index (ADX), Minus Directional Indicator (-DI) and Plus Directional Indicator (+DI) represent a group of directional movement indicators that form a trading system developed by Welles Wilder. Wilder designed ADX with commodities and daily prices in mind, but these indicators can also be applied to stocks. The Average Directional Index (ADX) measures trend strength without regard to trend direction. The other two indicators, Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI), complement ADX by defining trend direction. Used together, chartists can determine both the direction and strength of the trend.
Direcional Movement
Plus Directional Movement (+DM) and Minus Directional Movement (-DM) form the backbone of the Average Directional Index (ADX). Wilder determined directional movement by comparing the difference between two consecutive lows with the difference between the highs.Directional movement is positive (plus) when the current high minus the prior high is greater than the prior low minus the current low. This so-called Plus Directional Movement (+DM) then equals the current high minus the prior high, provided it is positive. A negative value would simply be entered as zero.
Directional movement is negative (minus) when the prior low minus the current low is greater than the current high minus the prior high. This so-called Minus Directional Movement (-DM) equals the prior low minus the current low, provided it is positive. A negative value would simply be entered as zero.
The chart above shows four calculation examples for directional movement. The first pairing shows a big positive difference between the highs for a strong Plus Directional Movement (+DM). The second pairing shows an outside day with Minus Directional Movement (-DM) getting the edge. The third pairing shows a big difference between the lows for a strong Minus Directional Movement (-DM). The final pairing shows an inside day, which amounts to no directional movement (zero). Both Plus Directional Movement (+DM) and Minus Directional Movement (-DM) are negative and cancel out each other. Negative values revert to zero. All inside days will have zero directional movement.
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