Anywhere to find some free Average Directional Movement Index (ADX) charts online for currencies?
I’m not sure I quite understand the question, but isn’t it just a simple case of adding this indicator to your charts, whatever software you use?
I know for certain that this indicator is part of the standard indicators in Metatrader 4. Most likely on other carting softwares too.
Just add it and you’ve got ADX on your chart.
For online charts, you might wanna look at FXStreet, not sure about ADX, but they have a lot of stuff.
The charting software I use is provided by the online spread betting company and they don’t have an ADX indicator yet so just wanted to look at a trend somewhere…
Ah, I see.
A possible solution is to open a demo account with one of the many brokers that use Metatrader 4, and study the ADX on Metatrader while executing trades with your spread betting company.
Brokers such as, Interbank, FXCM ( I think), Alpari, etc
I checked at FXStreet, if you go to Rates & Charts and then choose Advanced Forex Charts, you can add ADX along with many other indicators.
That might be a smooth web solution.
Hope that helps
Thanks.
Now…there’s also the RSI rating.
How is that used in comparison to ADX…values of 30 as well?
RSI doesn’t indicate the presence or not of a trend. All it does is compare the relationship between up and down periods during a certain amount of periods.
It indicates whether price has been moving up or down and values above 70 or below 30 are considered to be at extreme levels.
If you’re looking to determine trend, you might want to look at simple peak & trough behaviour, eg higher high and higher lows suggest an uptrend and lower hings and lower lows suggest a downtrend. Otherwise, no trend