Syntax
Public Function AverageDirectionalMovementIndex(chart_ID As Long, period As Integer) As StringDescription
The Welles Wilder’s Directional Movement System contains five indicators; ADX, DI+, DI-, DX, and ADXR.
The ADX (Average Directional Movement Index) is an indicator of how much the market is trending, either up or down: the higher the ADX line, the more the market is trending and the more suitable it becomes for a trend-following system. This indicator consists of two lines: DI+ and DI-, the first one being a measure of the uptrend and the second one a measure of the downtrend.
Detailed information about this indicator and formulas can be found in Welles Wilder’s book, “New Concepts in Technical Trading Systems”.
The standard Directional Movement System draws a 14-period DI+ and a 14-period DI- in the same chart panel. ADX is also sometimes shown in the same chart panel.
A buy signal is given when DI+ crosses over DI-, a sell signal is given when DI- crosses over DI+.
Parameters
| Key | Description |
| chart_ID | Chart identifier, 0 is the current chart, a value of type Long |
| period | The calculation period, on which the indicator will be calculated, a value of type Integer. |
Return value
Returns the handles of a technical indicator, in case of failure returns an empty string.
Sample
Public Sub main()AlertMessage (AverageDirectionalMovementIndex(0,14))'Draws the indicator on the chart and shows an Alert Message with the indicator name.End SubSee Also