An ADX Tip. :)
Hello traders! I'm back from a few years away and found a little nugget on ADX in my trading notes which I wanted to share with you. As you may know I have focused the majority of my attention on candlestick analysis using Steve Nison training material. In one of his courses I have written down this quote by a significant trader he talks about sometimes,
"Some of the best buy signals are found when ADX is below 15 and begins to rise." - Chuck Lebeau
Having seen that quote I brought up TradingView and found the most recent occurrence of that happening on the asset I was analyzing on the Weekly chart and look what I found:
Steve Nison teaches a strategy called "Trading the 9" which involves the 9, 20, & 50 period moving averages. Look, there was a Golden Cross of all of them exactly when ADX crossed above 15! Outstanding! Maybe look at adding an alert on the assets you watch for ADX crossing above 15! :)
"Some of the best buy signals are found when ADX is below 15 and begins to rise." - Chuck Lebeau
Having seen that quote I brought up TradingView and found the most recent occurrence of that happening on the asset I was analyzing on the Weekly chart and look what I found:
Steve Nison teaches a strategy called "Trading the 9" which involves the 9, 20, & 50 period moving averages. Look, there was a Golden Cross of all of them exactly when ADX crossed above 15! Outstanding! Maybe look at adding an alert on the assets you watch for ADX crossing above 15! :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.