The ADXR indicator supplied with NinjaTrader cannot be used with an input series other than price. We have recoded it so that you may apply it to other indicators. To do so, simply select any of the other NinjaTrader indicators as input series.
Indicator Description
The Average Directional Movement Index Rating (ADXR) is a component of the Directional Movement System as described by Welles Wilder. In addition to detecting the overall strength of the trend, the system also measures the strength of positive and negative price movement. Specifically, the ADXR indicator is a customized moving average (the WilderMA) applied to the ADX indicator. One may use the indicator to determine whether price movement is strong enough to consider setups. Therefore, the ADXR indicator is especially useful when considering trend-following entries.
Our version of the ADXR allows for setting the DM and ADX periods independently. Furthermore, this version of the ADXR can be applied to other input series than price.
Other Library Indicators
Several other standard indicators that come with NinjaTrader that cannot be used with an input series other than price. We have recoded the indicators and they are available from the nested indicators category, namely the ADX, ATR, CCI, Directional Movement, Directional Movement Index, Fast Stochastics, Parabolic SAR and the Standard Stochastics.
You may review the ADXR indicator in combination with a Donchian Channel Strategy, and the Wilder Volatility Stop for trade management. Finally, the Indicator Spotlight previously reviewed the ADXVMA.
The Average Directional Movement Index Rating indicator is available for NinjaTrader 8.
