ADX ROC() or MOMENTUN()

Optuma Scripting
1

Hi,

I’ve have the scan below which is attempting to find ADX above 25 and a slope of more than 25%.

However I’m not getting a result. Should this be a MOMENTUM() function instead?

Or should it include an Offset?

//Set ADX parameters 
V1=ADX(#ADX Bars:BARS=14) > #Value:25; 
//ROC of ADX 
V2=ROC(V1, BARS=1);
//Find ADX ROC greater than 25% 
V3=V2>0.25;
V3

Tim

2

Hi,

Rate of Change already turns the value into a %. So the setup would currently look for 0.25% ROC of the ADX.

I am not sure that’s the best way to determine slope.

Do you have an example image of the setup you’re trying to identify as a reference?

3

Hi Matthew,

I’m trying to workout the upward movement from the previous bar for a ADX 14 bar that is above 25.

In a scan it would be 25% or greater while in a Watchlist it would be the actual % (25, 30, 50 what ever it is).

Tim

4

Hi Tim,

I was not able to find any examples scanning the Russell 2000 codes across the last year of data where the ROC was 25% or higher. I dropped it down to 20% and found 4 instances. One was CELC on the 9th of April 2021 using this script:

//Set ADX
V1 = ADX().ADX ;
//Set 1 Bar ROC of ADX
V2 = ROC(V1, BARS=1) ;
//Find where ADX Line is above 25 and the ROC change is 20% or Higher
V1 >= 25 and V2 >= 20

Here is how it looks on the chart:

Ex5

Is this the setup you were trying to find?

5

Hi Matthew,

Thanks - looks good, I’ll give it a test.

You probably can’t find much that is “up” these days.

Tim