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The ADX function in the MetaStock (7 and below) Explorer function
gives whacky results too,
Warmest Regards
David Hunt________________________________
www.adest.com.au
Phone: Australia: (02) 9527 4690 Int: + 61 2 9527 4690
USA : + 1 312 577 0491________________________________
-------Original Message-------
From: Metastockusers@xxxxxxxxxxxxxxx
Date: Thursday, November 07, 2002 16:17:25
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] MetaStock ADX vs. RealTick ADX
I'm looking at using the ADX to select between a Stochastic and a moving average crossover system as appropriate for trending vs. channeling/cycling conditions. Can anyone shed some light on the difference between the ADX indicator displayed in RealTick and the ADX function in MetaStock? When I plot them on the identical price data in the two different software packages, the results are completely different. The RealTick ADX behaves as I would expect, with significant variations between higher values (> 30 or so) for trending conditions and lower values (< 30 or so) for channeling conditions. The RealTick ADX line also begins 14 days after the start of the data for a 14-period ADX. The MetaStock ADX is nearly a flat line, and begins 28 days after the start of the data (for a 14-period ADX). It looks like it's being smoothed a second time.I've done some investigation but have not yet done a spreadsheet to re-creat Wilder's formulas from his "New Concepts in Technical Trading Systems". That's my next step, but I thought someone else may have already figured it out.So far it looks to me like it's a difference in terminology - that the ADX in RealTick is actually Wilder's DX, or the MetaStock DX is actually Wilder's ADX. I also note that MetaStock's custom formula library includes a custom indicator which calculates ADX and ADXR without rounding, with the note that the built-in indicator is exactly the same as Wilder's original calculations. I wouldn't think that the rounding difference would be large enough to account for the difference between the two software packages.Thanks.Gary To unsubscribe from this group, send an email to:Metastockusers-unsubscribe@xxxxxxxxxxxYour use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
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