The Average Directional Index, or ADX for short, is another example
of an oscillator. It fluctuates from 0 to 100, with readings below 20
indicating a weak trend and readings above 50 signaling a strong trend.
Unlike the stochastic, ADX doesn't determine whether the trend is
bullish or bearish. Rather, it merely measures the strength of the
current trend. Because of that, ADX is typically used to identify
whether the market is ranging or starting a new trend.
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