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sujay.paranjpe

MA Crossover Strategy with MA Turning Point Exits + ADX filter

sujay.paranjpe  
Average Directional Index (ADX) Moving Averages Weighted Moving Average (WMA)
85
2
averagedirectionalindex movingaverage wma
This strategy is based upon @rthomson's MA Crossover Strategy with MA Turning Point Exits.

I just added an ability to filter out entries when ADX < 20. In fact you have a choice to set this ADX threshold value.

In a sideways market, the MA crossovers end up in yielding entry trades with losses. ADX value around 20 to 25 indicates a sideway market. By introducing ADX threshold, we are trying to prevent potential loss making entries.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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