Introduction to the ADX Buy Sell Indicator
The ADX Buy Sell Indicator provides signals based on the Average Directional Index (ADX) – a well-known name among the top-rated forex indicators. These signals are presented in the form of arrows. A blue upward arrow below a candle suggests the buy signal and a red downward arrow above a candle is considered as the sell signal. Due to the fact that this indicator plots a lot of signals, it’s recommended to use it in conjunction with some kind of filter.
The ADX Buy Sell Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Example trade with the ADX Buy Sell Indicator
Below is the screenshot of an example trade with the ADX Buy Sell Indicator.
In the example above, we paired the ADX Buy Sell Indicator with the Trend Champion Indicator. One should only trade arrows provided by the ADX Buy Sell Indicator when it’s in the agreement with signals provided by the Trend Champion Indicator (clear uptrend or downtrend).
How to set up the ADX Buy Sell indicator in MetaTrader (MT4)?
Download the ADX Buy Sell.rar archive at the bottom of this post, unpack it, then copy and paste the ADX Buy Sell.ex4 or ADX Buy Sell.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Summary Of That Forex Indicator
The ADX Buy Sell indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 ADX Buy Sell Indicator
To download the ADX Buy Sell Indicator for Metatrader 4 (MT4) for free just click the button below: