consolidation, lots of ways to do that, here we shall just use the current SMA-30 of the close

How could a ADX Long Set Up be constructed base on the criteria that follows?

2	Price has a consolidation period for at least 30 bars (any time) and ADX is less than 15 during the consolidation period and Both DMI lines are above ADX scan asked Nov 19 '11 at 22:23 Centaur 33 ●7

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2 Answers:

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You could start with something like this and then modify the parameters to suit. // scan intro, limits price and liquidity [type = stock] and [Close >=5] and [Close <=100] and [SMA(50,close) * SMA(50,volume) > 500000] // consolidation, lots of ways to do that, here we shall just use the current SMA-30 of the close // and require the close for the previous 30 days to be within +/- 1% and [max (30, daily close) <= daily sma(30,daily close) * 1.01] and [min (30, daily close) >= daily sma(30,daily close) * 0.99] // Max ADX line value to be less than 15 for the past 30 days. and [Max (30, ADX Line (14)) < 15.0] // now current Plus and Minus DI's to be above, greater than, the current ADX line and [Plus DI (14) > ADX Line (14)] and [Minus DI (14) >ADX Line (14)] hope this gives you some ideas, Cheers Gord link answered Nov 21 '11 at 15:52 Gord 11.8k ●3●19 edited Nov 21 '11 at 18:59

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