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Direct MessagesDate/Time: Fri, 26 Apr 2024 18:25:22 +0000
[User Discussion] - Alert For ADX Going Same Direction on 3 Different Timeframes
View Count: 2141
| [2013-12-31 15:27:02] |
| molandes - Posts: 5 |
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Hello, I am trying to figure out a way to program an alert for a setup that I trade. I want the alert to fire off a sound when the ADX indicator on my 1,3 and 5 minute charts are all sloping down to start with and then all turn up from a downward sloping position. Is it possible to create such an alert? Please advise. Thank you!
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| [2013-12-31 17:01:42] |
| Sawtooth - Posts: 3976 |
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Using higher timeframes for alert/signals can be problematic. The way I'd do it would be to bring the 3min and 5min ADX to the 1min chart using two instances of the Study/Price Overlay study on the 1 min, with Fill Blanks With Last Value on both set to Yes. You may also want to set the Bar Time Matching Method to Containing Match, and Copy Source Data To Latest Corresponding Destination Bar to Yes. Experiment with these 3 settings. Then use the Spreadsheet System/Alert study on the 1 min chart. To determine the slope of the higher timeframe ADXs, I'd use this approach: http://www.sawtoothtrade.com/example-6.html Assuming the following: -The ADX is in column AA -The overlaid 3min ADX is in column AC -The overlaid 5min ADX is in column AE -You've used the Up/Dn method from the link above on the 1 min ADX (for simplicity) in column X -You've used the Up/Dn method from the link above on the 3 min ADX in column Y -You've used the Up/Dn method from the link above on the 5 min ADX in column Z Use this formula in cell K3: =OR(AND(X4="Dn",X3="Up",Y3="Up",Z3="Up"),AND(X3="Up",Y4="Dn",Y3="Up",Z3="Up"),AND(X3="Up",Y3="Up",Z4="Dn",Z3="Up")) This will alert when any of the 3 ADXs change direction to Up and the other 2 are already Up. Date Time Of Last Edit: 2015-08-14 01:49:35
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| [2014-01-01 19:31:45] |
| molandes - Posts: 5 |
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That gets me close. The biggest difference I see in the alerts that it gives and the setup that I trade is that the setup is only valid if ALL of the ADX's start from a downward slope then slope up one at a time. When the last adx turns up, then I would fire off an order.
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| [2014-01-03 04:54:37] |
| Willson - Posts: 176 |
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Thanks to Tomgilb and molandes. This sequence of three signals down then progressing up has been on my alarm wish list for long time, just too intimidating. This was straightforward in eSignal and Wealthlab, but beyond me here. With Tom's help maybe I can tackle it sometime. My charts are crying out for several alarm signals, but all are very complex and must wait for greater skill level
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| [2014-01-03 05:19:54] |
| Sawtooth - Posts: 3976 |
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This alert is probably possible with spreadsheet formulas in several columns. But there are other unmentioned conditions that would need to be considered.
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