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»Forums Index »Product Support »ProphetX Support »ADX valuable for 1 minute chart on ProphetX?
Author Topic: ADX valuable for 1 minute chart on ProphetX? (3 messages, Page 1 of 1)

tazpack
-Interested User-
Posts: 3
Joined: Oct 31, 2007


Posted: Oct 31, 2007 02:32 PM          Msg. 1 of 3
Hi, I currently use five different MA's that represent different minute averages but wondering if ADX would be another useful tool. Default Period/Value for the ADX line under Properties is set at 14. Is this applicable to someone using a 1 minute chart, though? Not sure if "14" is relevant for all charts or if another Period/Value would be better suited for 1 minute charts. Thanks for any expertise you can lend!

margep
-DTN Evangelist-
Posts: 119
Joined: Sep 13, 2005


Posted: Oct 31, 2007 02:45 PM          Msg. 2 of 3
The default properties have been assigned based on standard formulas from the technical analysis publications and in no way reflect what the best suited properties should be.
In the case of the 14 - this is based on the interval you've selected. Therefore, if it was a daily chart it would be 14 days, on a minute chart it would be based on the last 14 minutes. If it were a 15-tick chart it would be 14 15-tick intervals.
Thank you for your request and hope this helps explain the ADX properties.
Marge

tazpack
-Interested User-
Posts: 3
Joined: Oct 31, 2007


Posted: Oct 31, 2007 06:35 PM          Msg. 3 of 3
Marge, this is excellent. Thank you! Wasn't sure what the "14" stood for...now I'm confident the default value of 14 represents minutes in this case, reflecting my chart setting as well as the MA's I'm using.

best,
-mike
 

 

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