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Strategies & Market Trends : NetCurrents NTCS
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To: Teresa Lo who wrote (3546)11/3/2000 5:43:34 PM
From: robin 187  Read Replies (2) of 8925
 
Teresa.. I'm really trying to understand how to use ADX and I was wondering if you could look at the GLW chart for me and explain what it is that you see. I use IQ charts and their Directional movement has the ADX with the +DI and -DI. I know you use Quote.com and they only use the ADX..... According to Elders, a very good signal using ADX is when the ADX is below both the + and - DI. On GLW 60 min chart, ADX is below both. Elders says that after ADX's lowest point, and it comes up 4 steps, whichever is on top the + or -, that this is a strong long or short signal. GLW has just completed the first phase of this and at this point, it would be indicated to take a long position. Do you agree with this or should one not use the 60 min chart on such a signal. I'm really trying to understand how to use the ADX. I seem to do best using it as a contrarian indicator... When it's extremely extended, I take the position that it's currently overheated and it's best to take profits and possibly reverse one's position. I don't understand yet what it means when ADX falls from it's high and is just trending in a flat range other than to assume there's some consolidation going on. Do you have any articles you've written on ADX? Thanks again for giving me your interpretation of what I'm looking at....

Take CAre,
Robin
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