Indicators

ADX Stochastic Alert Indicator

Introducing the ADX stochastic Alert Indicator. This is a very simple indicator with very easy rules to follow. The ADX stochastic alert indicator is a trend following indicator that is very profitable for those who follow all the rules properly. Traders from novice to professionals can use this indicator, it is very flexible because it works on all timeframes. Technical traders use this indicator to identify potential entry and exit signals. Some basic knowledge of the trend is needed to use this indicator.

Forex Brokers

When you install ADX stochastic alert indicator, your platform should look like:

ADX stochastic alert

The ADX stochastic alert indicator changes the appearance of the main chart, bullish candles are painted blue and bear candles are painted white. The stochastic indicator is two lines that bounce from zero to 100, the orange and the purple. When the stochastic is close to 100, it means the market is overbought and has probably reached resistance, when the stochastic is close to zero it means the market is oversold and has probably reached support. The ADX stochastic indicator is probably better when you use it with additional tools such as support and resistance indicator. Alternatively, if you’d draw manual support and resistance zones on the main chart, then you’d make more profits using this indicator.

Buying conditions using ADX stochastic indicator

• Identify the market trend, make sure it is bullish.
• Confirm the ADX stochastic indicator is close to zero.
• Enter on price action buy signal (dark cloud cover, hammer, e.t.c)
• Place the stop below support.
• Place target before the first upper resistance.
• Sit back and repeat.

Test Indicator On MT4

Selling conditions using ADX indicator

• Identify the market trend, make sure that it is bearish.
• Confirm the ADX indicator is close to 100.
• Enter on price action signal (dark cloud cover, hammer, e.t.c).
• Place the stop above resistance.
• Place the target before the next support.
• Sit back and repeat.

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Download Free Forex ADX Stochastic Alert Indicator

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