Hello Guys !! What a morning !!!!! Look at the chart of the DAX FUTURE - 11-09-03 Those who are following my system have now BIG MONEY !!!!!! Good trading Guys Cheers Jeanmichel
This morning, I compared the intraday charts for 2 stocks (dltr, altr) on Big Charts versus Medved Quote tracker. While the +dmi and -dmi crosses seems roughly comparable. The adx values vary widely and to the point that one chart may be showing a strong trend while the other shows no trend at all. A while back, looking at the rydex funds on Big Charts versus StockCharts.com. I noticed the same problem. I guessed that the problem was probably with StockCharts.com because their charts showed the adx as indicating a very weak trend for months, while the market was in a strong rallying mode. When I emailed my findings to StockCharts they got very defensive about it and even sent out a general notice to their subscribers that their calculations were right and Big Charts calculations were wrong. As yet, I have not tried to check the mathematical calculations used on these three sites to see who (if anybody) is correct. I also suspect that other technical indicators used on other sites etc. are screwed up as well and you can't check them without a hand calculation. All comments appreciated. regards
hoodooman, My version of QT has ADX and DMI but not ADXR. The default value of ADX on QT is 3, which -- unless you changed it -- may be the reason you're seeing differences with other charts.
On quote tracker, I can vary dmi from 14 to 6 and average from 1 to 6 and I still can't get any adx line that's even similiar to what big charts shows for dltr's intraday chart for 9-10-3.
Jeanmichel, thanks for sharing your work with us. Can you or anyone enlighten me as to what "ADXR" is? I am familiar with "ADX" but not "ADXR". project86 ps QT users, we could ask Jerry of QT to program in this ADXR. They have been very good about new feature requests, and if enough of us ask we might get it. Just a thought.
While this is working good for Jeanmichel I've never had much luck with ADX however I do get the same results using the dmi crossovers. As for ADXR, I don't have a clue and personally have a hard time understanding Jeans charts but then I might not be the brightest bulb on the block Note the following comment from Mr. Lebeau To Mr. Lebeau You are widely acknowledged for your use and expertise with ADX. Can you give us any insights or tell us your preferences between ADX and ADXR? >> I don't use ADXR at all. The ADX is already smoothed several times and I see no point in smoothing it one more time. It seems to me that the challenge with ADX is finding ways to make it work faster. Hope this helps. Chuck Le Beau Chuck@xxxxxxxxxxxxxxxxxxx
Yes, my sentiments exactly. I am probably also not be the brightest bulb on the block, the only benefit I see of ADXR is perhaps to filter out some false signals given by DMI crossover. This may be a good opportunity to publicly thank nyc-hotshot for starting this thread and also thank WarEagle for his TS code. I played around with it and find DMI +/- to be a very good confirmation signal. In my case, I use channel breakouts, using DMI +/- as confirmation seems to eliminate some false signals.