0x (ZRX)

Current price: $ 0.32

24 hours price change: $ 0.04 (13.74%)

0x - Average Directional Index

The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the 0x. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of 0x.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for 0x. In this continuously updated article, we will explain the meaning and current trend of 0x. The current ADX analysis is based on the historical prices of 0x until December 18th, 2018.

In the chart below, the strength the trend is drawn, as well as the positive and negative directional indicators. The ADX (Average Directional Index) is the black line. The positive directional indicator (+DI) is the green line, and the negative directional indicator (-DI) is drawn in red.

Price chart for 0x from 06/18/2018 until 12/18/2018.

In the chart above, the development of the price for 0x is shown for the period from 06/18/2018 until 12/18/2018. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for 0x until 12/18/2018.

In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the 0x are listed in the table below.

0x average directional index34.61
0x positive directional indicator30.00
0x negative directional indicator50.45

 

Several signals can be gained from the chart above. First of all, the green line gives us an indication of the positive trend. The opposite line, the red one, indicates the negative trend for 0x.

When the green line tops the red line, the 0x is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for 0x.

Furthermore, the black line gives the strength of the current trend of 0x, both positive and negative. The higher the black line (ADX), the stronger the trend.

0x ADX score

The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. In general, when the positive directional indicator is higher than the negative directional in indicator, the trend of 0x is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The current directional indicator gives a negative signal for 0x. The positive directional indicator for 0x is 30.00, which is lower than the negative directional indicator (50.45). Therefore, the trend that 0x follows is negative.

The current ADX value is 34.61, which tells us that the current trend is strong. Using these values, we can asume that the 0x will continue its downwards trend. In short, the current average directional index gives us a selling signal for the 0x. However, you should always be aware, since trends are changing from time to time.