ADXR (Function)
DisclaimerThe ADXR series function returns the ADX rating value which is the (ADX + ADX of some bars ago / 2).
Syntax
ADXR(Length)
Returns (Double)
A positive numeric value for the current bar.
Parameters
| Name | Type | Description |
| Length | Numeric | Sets the number of bars to consider for the average directional movement index calculation. |
Remarks
ADXR attempts to rate securities on a rating scale that is representative of the directional movement.
The DirMovement function calculates the DMI, ADXR, and ADX values.
The value for the Length input parameter should always be a whole number.
Example
Assigns the ADXR value to Value1, where the ADXR length is 14 bars, then plots Value1:
Value1 = ADXR(14);
Plot1(Value1, "ADXR");
Reference
Wilder, J. Welles, Jr. New Concepts in Technical Trading Systems (Greensboro, NC: Trend Research, 1978).