Hi guys. As there are several variations of the ADX indicator, I would like to know how it is calculated in MT4. Does anyone know? Thanks.
Have you a source for these variations? Have you noticed a huge difference on the chart? https://www.investopedia.com/terms/a/adx.asp
The ADX indicator is useful for trading as it helps measure the strength of a trend, which is crucial for identifying whether a market is trending or ranging. It provides valuable insights into the strength of the current trend, but it is less effective in indicating the direction of the trend.