Digitex Futures (DGTX)

Current price: $ 0.002910

24 hours price change: $ -0.000002 (-0.07%)

Digitex Futures ADX

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Digitex Futures. In this continuously updated article, we will explain the meaning and current trend of Digitex Futures. The current ADX analysis is based on the historical prices of Digitex Futures until August 1st, 2021.

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 Digitex Futures from 01/31/2021 until 08/01/2021.

In the chart above, the development of the price for Digitex Futures is shown for the period from 01/31/2021 until 08/01/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Digitex Futures until 08/01/2021.

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

Digitex Futures average directional index 26.22
Digitex Futures positive directional indicator 40.55
Digitex Futures negative directional indicator 52.63

 

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 Digitex Futures.

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

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

Digitex Futures 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 Digitex Futures 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 Digitex Futures. The positive directional indicator for Digitex Futures is 40.55, which is lower than the negative directional indicator (52.63). Therefore, the trend that Digitex Futures follows is negative.

The current ADX value is 26.22, which tells us that the current trend is strong. Using these values, we can asume that the Digitex Futures will continue its downwards trend. In short, the current average directional index gives us a selling signal for the Digitex Futures. However, you should always be aware, since trends are changing from time to time.

 

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