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Strategies & Market Trends : Technical Analysis - Beginners
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To: MechanicalMethod who wrote (11108)1/30/2001 9:10:46 PM
From: Michael Watkins  Read Replies (1) of 12039
 
I'm not quite sure what you are getting at.

For instance first thing I'd lose is
If currentBar >=1 and length > 0 then begin.

All that line does in Tradestation is ensure that it doesn't try to calculate something impossible like ADX(0).

And it also ensures that there are enough bars on the chart (1 more than MaxBarsBack). If MaxBarsBack is being determined automatically, it will look at the formula to determine how many bars are required for the calculation; if set manually by a user, this is a check to ensure the user has set it large enough.


and that's followed by
If currentBar < length then begin.

Quickly looking at the formula in TS, it appears the If clause you refer to simply isolates a section of code that only is executed in the first n bars (n=length-1) and is an attempt to make ADX more responsive in the first few bars. It matters not at all after that, and most people will have many more than 14 or so bars for most time frames and symbols they are working with.

I believe all that currentBar business is just clutter that hides the true workings of ADX. What do you think?

I don't think so.

Sleuth around on the net and you can probably find a complete formula for ADX (or you can build it yourself by breaking down the DMI and ADX functions in TS).

Chuck Lebeau's book is useful for how to use it.

Its probably more useful to see how others have used an indicator before starting to rework it.

ADX isn't perfect, but what is.
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