The ADX Dashboard indicator is a 5 speed multi-time frame analysis indicator that can be used to monitor the strength of the current trend of a currency pair. It uses ADX speeds 7, 21, 42, 89, and 144 and shows the current trend power from time frames M1 to D1. This is a very accurate trend indicator that is used by many forex traders and even popular trading systems such as the “Alien Trading System” in Forex Factory.
How to trade the indicator:
When the 5 ADX speeds are all Green, that indicates the safest strong trend in the market and good for a longer-term trade to enter. If the 5 ADX speeds are all Red, this means there is no momentum in the market. You can just trade the first 3 ADX if you like, 7, 21, 42, without the 89 and 144 speeds, it may become a shorter length of trade. And you best use Stop Loss or monitor the trade closely.
This is a MetaTrader 4 (MT4) indicator and works with all currency pairs and all timeframes. Once you download and install the indicator, it will appear in your trading chart, like the image shown above.
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