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Nice
summary Kurush.....straight from the May 2004 Stock & Commodities
magazine...I don't think I saw any acknowledgement though?
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<FONT face=Arial color=#0000ff
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<FONT
face=Tahoma size=2>-----Original Message-----From: Kurush K Mistry
[mailto:kurush_mistry@xxxxxxxxxxx] Sent: Tuesday, 13 July 2004 9:29
AMTo: equismetastock@xxxxxxxxxxxxxxxSubject:
[EquisMetaStock Group] Re: ADXHere is another useful
way to look at it. No decisions should be based on just one
indicator! If someone explains to me how to attach a chart I can post that
too!ADX <20 indicates a weak trend. Use oscillatorsADX
rising from 15 to 25 from lower levels means the trend is strengthening;
usetrend-following systemsADX above 30 is interpretd as a strong
trend;use trend-following systemsADX at an extremelyhigh level of
45 or aboveis interpreted as a market in a strong trend with
consolidation expected anytime. Startbooking profits if the ADX makes a
top orflattens out.Long trades can be entered when +DI moves
over -DI and short trade can be entered when-DI moves below
+DI.Importnt turns are indicated when ADX reverses direction after
it has moved above both DIsDivergence between the ADX and the price
isan importnt indicator of an impending reversal.ADX declining
below 30 is interpreted as a consolidation after a trending move.
UseOscillators or credit spreads to trade these consolidations. If
bearish patterns developand break down, look for ADX to move
higher,this time indicating a trending move on the
downside.
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