2016 Mar: ADX Breakouts by Ken Calhoun

[eSignal]

File Name: ADX.efs

Description:
ADX Breakouts by Ken Calhoun

Formula Parameters:

ADX.efs
Length: 14
Smoothing: 14
ADX Trigger Level: 40

Notes:
The related article is copyrighted material. If you are not a subscriber
of Stocks & Commodities, please visit www.traders.com.

Download File:
ADX.efs

ADX.efs


EFS Code:

/*********************************
Provided By:  
eSignal (Copyright c eSignal), a division of Interactive Data 
Corporation. 2016. All rights reserved. This sample eSignal 
Formula Script (EFS) is for educational purposes only and may be 
modified and saved under a new file name.  eSignal is not responsible
for the functionality once modified.  eSignal reserves the right 
to modify and overwrite this EFS file with each new release.

Description:        
    ADX Breakouts by Ken Calhoun

Version:            1.00  01/11/2016

Formula Parameters:                     Default:
Length                                  14
Smoothing                               14
ADX Trigger Level                       40


Notes:
The related article is copyrighted material. If you are not a subscriber
of Stocks & Commodities, please visit www.traders.com.

**********************************/

var fpArray = new Array();

function preMain(){
    setPriceStudy(false);
    setStudyTitle("ADX Breakouts");
    setCursorLabelName("ADX",0);
    
    var x=0;
    fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(1);        
        setDefault(14);
    }
    fpArray[x] = new FunctionParameter("Smoothing", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(1);        
        setDefault(14);
    }
    fpArray[x] = new FunctionParameter("TriggerLevel", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setName("ADX Trigger Level");
        setLowerLimit(1);        
        setDefault(40);
    }
}

var bInit = false;
var xADX = null;
var vLongFlag = false;
var vLongFlag1 = false;
var vFullDate = 0
var vTriggerDate;
var bVersion = null;

function main(Length, Smoothing, TriggerLevel){
    
    if (bVersion == null) bVersion = verify();
    if (bVersion == false) return;

    
    if(getBarState() == BARSTATE_ALLBARS){
        bInit = false;
    }

    if (!bInit){
        xADX = adx(Length,Smoothing);
        addBand(TriggerLevel, PS_SOLID, 1, Color.lightgrey, "Trigger")
        vLongFlag = false;
        vLongFlag1 = false;
        vFullDate = 0;
        bInit = true;
    }

    if(xADX.getValue(-1) == null) return;

    if( getBarState() == BARSTATE_NEWBAR){
        var oBarDate = getValue("time");
        var vYear  = oBarDate.getFullYear().toString();
        var vMonth = (oBarDate.getMonth()+1) < 10? "0"+(oBarDate.getMonth()+1): oBarDate.getMonth()+1;
        var vDate  = oBarDate.getDate() < 10? "0"+oBarDate.getDate(): oBarDate.getDate();
        vFullDate = (vYear+vMonth+vDate)*1;
        vLongFlag1 = vLongFlag;
    }

    if(xADX.getValue(0) > TriggerLevel && xADX.getValue(-1) < TriggerLevel){
        vTriggerDate = vFullDate;
        vLongFlag = true;
        drawTextRelative(0, TriggerLevel-2.00, "\u00E1", Color.green, null, Text.TOP|Text.CENTER, "Wingdings", 10, "UpArrow"+rawtime(0));
    } else{
        vLongFlag = vLongFlag1
        removeText("UpArrow"+rawtime(0))
    }

    if(day(0)!=day(-1) && vFullDate >= vTriggerDate+1 && vLongFlag){
        var nHigh = formatPriceNumber(high(-1, inv("d"))+0.50);
        drawText("Suggested Long Entry at "+nHigh,TopRow1,Color.green,Text.LEFT,"Text"+rawtime(0));
        vLongFlag = false;
    }

    return xADX.getValue(0);
}

function verify(){
    var b = false;
    if (getBuildNumber() < 779){
        
        drawTextAbsolute(5, 35, "This study requires version 12.1 or later.", 
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "error");
        drawTextAbsolute(5, 20, "Click HERE to upgrade.@URL=http://www.esignal.com/download/default.asp", 
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "upgrade");
        return b;
    } 
    else
        b = true;
    
    return b;
}