Bytom (BTM)

Current price: $ 0.08

24 hours price change: $ 0.000294 (0.38%)

Bytom - 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 Bytom. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of Bytom.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Bytom. In this continuously updated article, we will explain the meaning and current trend of Bytom. The current ADX analysis is based on the historical prices of Bytom until September 22nd, 2019.

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 Bytom from 03/25/2019 until 09/22/2019.

In the chart above, the development of the price for Bytom is shown for the period from 03/25/2019 until 09/22/2019. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Bytom until 09/22/2019.

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

Bytom average directional index 18.15
Bytom positive directional indicator 42.68
Bytom negative directional indicator 49.43

 

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 Bytom.

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

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

Bytom 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 Bytom is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The Bytom currently follows a negative trend. For Bytom, the positive directional indicator is 42.68. The value for the negative directional indicator is higher (49.43). This means that the current trend of the Bytom is negative.

To measure the strength of the current trend, we look at the ADX. The value of the ADX for Bytom  is 18.15, meaning that the trend is very weak. The ADX for Bytom does not give us a good indication to start buying or selling Bytom.

To get a good signal to trade Bytom, we have to wait until the trend gives us a higher ADX value in the current negative trend.