ADX Screener

The ADX Screener indicator provides a comprehensive dashboard for monitoring trend strength and potential reversals across up to 40 different assets simultaneously. By tracking the rate of change in the Average Directional Index (ADX), traders can identify when momentum is accelerating or exhausting in real-time.

Usage

The dashboard displays a table where each row represents a selected asset. The primary utility lies in observing the ADX difference (slope) over the last three candles:

• Momentum Identification: A positive ADX slope (e.g., +0.5 or more) indicates a strengthening trend.
• Reversal Warning: A decreasing ADX slope or a shift from positive to negative values often precedes price reversals or consolidations.
• Directional Context: While ADX measures strength, the asset names in the table are color-coded based on Directional Index (DI) alignment. Green indicates a bullish bias (+DI > -DI), while red indicates a bearish bias (-DI > +DI).

Details

ADX is a non-directional indicator, meaning it rises during both strong uptrends and strong downtrends. This screener calculates the delta between consecutive ADX values to determine the "slope."

• Strong Trend: Typically characterized by an ADX slope increasing by 0.5 or more.
• Weakening Trend: Characterized by a slope of 0.25 or less, or a negative slope, suggesting the current move is losing steam. The tool uses request.security to fetch data for multiple symbols, allowing for a birds-eye view of market volatility and trend health across various pairs or sectors.

Settings

Indicators

• ADX Smoothing: Sets the period for the ADX smoothing calculation (default is 14).
• ADX DI Length: Sets the period for the Directional Indicators (+DI and -DI).
• ADX Level: Defines the threshold often used to identify a "strong" trend (typically 20-25 or higher).

Symbols

• Symbol Inputs (1-40): Toggle switches and symbol pickers allow you to customize which assets are tracked in the screener.

FAQ

How do I interpret the color coding in the table?

The asset name color is determined by the relationship between +DI and -DI. Green signifies bullish dominance, while red signifies bearish dominance. The numerical columns show the change in ADX value for the current and prior candles.

Can I use this for stocks or forex?

Yes, the indicator supports any symbol available on your platform. You can modify the 40 symbol inputs in the settings menu to track your preferred asset classes.

How can I access ADX Screener?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.