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Jerry,
I've also noticed that low (generally less than 15, it depends on the
market) ADX values can precede a trending move. Last year (September
'97), Daniel Chesler mentioned this in an article he wrote in TASC on
trading with chart patterns and indicators. I like the idea of using
ADX in this manner -- it's not how most traders look at ADX.
Brad Dingee
---GREHERT@xxxxxxx wrote:
>
> I hate to bad-mouth the old trusy ADX, but I used to optimize
systems with the
> ADX and found they did best with the filter ADX < N; which meant the
best
> trades were taken when trendiness was at a bare minimum, i.e. the
market was
> resting and ready to explode. Knowing that this was the oposite of
the
> standard ADX usage, I lost interest in this clever index.
>
> Best Regards,
>
> Jerry Rehert (grehert@xxxxxxx)
> Atlanta, GA
> @ 06:04 pm, September 17th, 1998
>
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