The ADX EA is an Average Directional Movement Index based trading system which was developed in VTL. Average directional Index(ADX), Minus Directional movement Index(-DI) and Plus Directional movement Index(+DI) represent a group of directional movement indicators that indicates the strength of trend and trend direction.

The rules of the EA are:

1. Buy when +DI cross above - DI or +DI cross above ADX.

2. Sell when -DI cross above +DI or -DI cross Above ADX.

The default value for ADX period is 14. The system is highly customizable. The user can select either the EA to trade buy positions only or sell positions only or both buy and sell. User can define the stop loss and target. The EA operates in two modes which is determined by the parameter "blClose". When "blClose" parameter is true, the system closes the last open trade and opens a new position, if a new signal comes in the opposite direction of last trade. When turned off the EA opens positions up to the maximum number of open positions allowed, default is 3 open positions. The hours to trade the system can also be specified through the parameters "startHour" and "endHour".

The default target is 20 pips and no stop loss, however user can specify their target and stop loss based on their risk appetite.

Usage

• Download the attachment.
• Copy it to your company VertexFX  Local VTL Files folder i.e. C:\Program Files\Company Name\vtl10\Local VTL Scripts\
• Restart your Client Terminal or Right Click on "Local VTL Scripts" Tree Node to find the script.