Dimension Chain (EON)

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24 hours price change: - (-)

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Dimension Chain. In this continuously updated article, we will explain the meaning and current trend of Dimension Chain. The current ADX analysis is based on the historical prices of Dimension Chain until July 2nd, 2020.

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 Dimension Chain from 04/23/2020 until 07/02/2020.

In the chart above, the development of the price for Dimension Chain is shown for the period from 04/23/2020 until 07/02/2020. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Dimension Chain until 07/02/2020.

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

Dimension Chain average directional index 20.75
Dimension Chain positive directional indicator 38.07
Dimension Chain negative directional indicator 57.08

 

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 Dimension Chain.

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

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

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

As you can see in the chart above, the Dimension Chain follows a negative trend. The positive directional indicator (38.07) is lower than the negative directional indicator (57.08). When the Dimension Chain is in this kind of situations, the trend is negative.

Allthough the trend is negative, the current situation of the trend of Dimension Chain is not that strong. The ADX gives us a value of 20.75, which means that the trend currently followed by Dimension Chain is a weak one. To get clear signals from the ADX for Dimension Chain, you should wait until the ADX moves upwards of 25.

As mentioned, the current trend is negative, however the trend might flip over to a positive trend.

 

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