ADX MTF Indicator: Three ADX Lengths in One Pane

Written by Dominic Walsh · Published · Last updated

The adx mtf indicator stacks three ADX readings in a separate pane below price. ADX 7, ADX 14 and ADX 28 run the same calculation at different lengths. A fourth line averages the three. All four read the chart they sit on, so this is a multi length view rather than a multi chart one.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms MT4 (.ex4) + MT5 (.ex5)
Chart window Separate window (levels 25)
Plots 4: ADX 7, ADX 14, ADX 28, ADX Avg
Alerts popup, push notification, email, sound
Inputs 10

What the ADX MTF Indicator draws on the chart

ADX 7 (aqua) reacts quickest of the three and lifts first when a move begins.

The orange line, ADX 14, runs the standard length.

ADX 28 (magenta) needs a longer stretch of directional movement before it responds.

A yellow ADX Avg line takes the plain mean of the other three.

A fixed level crosses the pane at 25, matching the TrendLevel default.

  • ADX 7: line, aqua, width 1
  • ADX 14: line, orange, width 1
  • ADX 28: line, magenta, width 1
  • ADX Avg: line, yellow, width 3
EURUSD H1 pane: the adx mtf indicator with ADX 7, ADX 14 and ADX 28 above 25.
EURUSD H1 pane: the adx mtf indicator with ADX 7, ADX 14 and ADX 28 above 25.

How the ADX MTF Indicator calculates its values

Three lengths of the same reading

Each line is a call to the platform own ADX routine. Fast, Mid and Slow set the three lengths, and all three ask for the main value rather than a directional component.

Nothing is recalculated by hand. Length is the only difference between ADX 7, ADX 14 and ADX 28.

The average line

ADX Avg adds the three readings together and divides by three. It moves less than the fast line and responds sooner than the slow one.

Because it is a plain mean, one high reading can carry it on its own. Check which of the three is doing the lifting before reading much into it.

How much history it reserves

The loop stops short of the oldest bars. It holds back twice the Slow length plus two bars so the longest of the three has enough history behind it.

That leaves the left edge of the pane empty. The gap grows whenever Slow is raised.

How to read the signals

All three lines above TrendLevel means every length agrees that a move is running.

ADX 7 above the level while ADX 28 sits below it usually means the move is young.

Falling lines mean directional movement is draining out, whichever way price is going.

This family measures strength, not direction. A rising ADX 14 says nothing about which side is winning.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Alerts cover popup, push, email and sound. The alert check reads the directional components at the Mid length, and a bar time guard keeps it to one alert per closed bar.

Every ADX MTF Indicator input

Core settings

Setting What it does Default
Fast Fast sets the shortest length. It defaults to 7 and drives the ADX 7 line. 7
Mid Mid sets the middle length, 14 by default. The alert block reads its directional components rather than the main line. 14
Slow Slow is the longest length at 28. It also sets the reserved history, so raising it pushes the start of every line further right. 28
TrendLevel TrendLevel is the strength threshold, 25 by default, and it sets the level drawn across the pane. 25

Alert settings

Setting What it does Default
EnableAlerts (see inputs panel) on
EnablePopup (see inputs panel) on
EnablePushNotify (see inputs panel) off
EnableEmail (see inputs panel) off
EnableSound (see inputs panel) off
SoundFile (see inputs panel) alert.wav
Inputs panel for the adx mtf indicator showing Fast, Mid, Slow and TrendLevel.
Inputs panel for the adx mtf indicator showing Fast, Mid, Slow and TrendLevel.

Settings that fit your chart

The screenshot uses EURUSD H1. Three lengths of one reading suit charts where a move lasts long enough for the slow line to catch up, so H1 and above give the clearest separation between them. On very fast timeframes ADX 7 crosses the 25 level often while ADX 28 barely responds.

When the ADX MTF Indicator fails

This reading rises in a strong downtrend exactly as it does in a strong uptrend. The pane tells you a move exists, not which way to take it.

In a tight range all three lines sink towards the bottom of the pane and stay there. Crosses of TrendLevel in that state carry no information.

ADX Avg can sit above 25 while two of its three inputs are below it. The mean hides that disagreement.

The longer lengths lag badly. ADX 28 often peaks well after the price move that caused it has finished.

Copy the compiled ADX MTF Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Download the ADX MTF Indicator for MT4 and MT5

The zip holds the compiled ADX MTF Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

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FAQ

Why does the name say MTF when every line reads one chart?

The three calls all pass zero as the timeframe, which means whichever chart you have open. What changes between them is length, not period. Fast, Mid and Slow give a short, standard and long view of the same bars. Treat the pane as three speeds of a single reading.

What does the ADX Avg line add over ADX 14 alone?

ADX Avg is the mean of ADX 7, ADX 14 and ADX 28. It smooths out a single fast spike and it lifts sooner than the slow line does on its own. It works as a summary, so it earns its place when the three underlying readings disagree.

Should I raise TrendLevel above the default of 25?

That depends on how often you want the lines to count as trending. The default of 25 sets the level drawn across the pane. Raising it to 30 cuts the number of qualifying stretches down. Lowering it lets weaker moves through and puts more of the chart above the line.

How far right does the pane start if I raise Slow?

The loop reserves twice the Slow length plus two bars before writing any value. At the default of 28 that is 58 bars. Doubling Slow to 56 pushes the first plotted point past 110 bars. Every line starts together, since the reservation covers the longest of the three.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the ADX MTF Indicator as one input. Always backtest before trading live.

Category: this is part of our Signal and Forecast collection. Then, still, browse more Signal and Forecast for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.

External references

Dominic Walsh - Forex trader and MT4/MT5 developer

About the author

Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.

How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.

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