The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the Horizen. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of Horizen.
The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Horizen. In this continuously updated article, we will explain the meaning and current trend of Horizen. The current ADX analysis is based on the historical prices of Horizen until November 27th, 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.
In the chart above, the development of the price for Horizen is shown for the period from 05/27/2021 until 11/27/2021. This same timeframe has been used in the average directional indicator chart below.
In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the Horizen are listed in the table below.
|Horizen average directional index||29.86|
|Horizen positive directional indicator||45.53|
|Horizen negative directional indicator||34.81|
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 Horizen.
When the green line tops the red line, the Horizen is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for Horizen.
Furthermore, the black line gives the strength of the current trend of Horizen, both positive and negative. The higher the black line (ADX), the stronger the trend.
Horizen 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 Horizen 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 positive signal for Horizen. The positive directional indicator for Horizen is 45.53, which is higher than the negative directional indicator (34.81). The trend that the Horizen follows is a positive one.
The current ADX value is 29.86, which tells us that the current trend is strong. Using these values, we can asume that the Horizen will continue its upwards trend. In short, the current average directional index gives us a buying signal for the Horizen. However, keep an eye on turning trends.