// Identify potential trend reversals using ADX on up to 40 crypto assets. // ADX shows the strength of a trend, not the direction. // By monitoring the difference of ADX values between candles, you can potentially identify reversals before they happen. // A strong trend has a 14 period ADX slope increasing .5 or more from the prior candle. // At a minimum, a weak trend has a 14 period ADX slope of +.25 or less, and strictly it would be decreasing. // This indicator prints one row for each asset with three columns for ADX differences one candle back each. // The asset name is colored green or red dependent on whether +DI > -DI or not.
The market was in a down trend (-DI > +DI).
A bullish wave moved price up to EMA 8 resistance with strong ADX momentum (ADX diff of prior candle >= 0.5).
A Spinning Top showed that the trend was losing momentum (ADX diff lower than previous candle, showed the bullish wave losing momentum).
A Morning Star bearish reversal pattern draws resistance at the high of the pattern. (ADX Bullish momentum exhausted).
If I enable lines 484 and 495, this is supposed to show adx. Does it show the current ADX? Or does it show an adx value some time back? Because if I enable it, I do not seem to get the correct adx value. E.g. one 1 hour time frame, ETHEUR the current ADX value is 14, but the enabled column shows 16.59, which is close to current adxr value (16.5204) but is not identical with it. Could you explain this difference? Thanks for this great tool!