Siacoin (SC)

Current price: $ 0.003876

24 hours price change: $ 0.000388 (11.11%)

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Siacoin. In this continuously updated article, we will explain the meaning and current trend of Siacoin. The current ADX analysis is based on the historical prices of Siacoin until December 3rd, 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 Siacoin from 06/02/2020 until 12/03/2020.

In the chart above, the development of the price for Siacoin is shown for the period from 06/02/2020 until 12/03/2020. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Siacoin until 12/03/2020.

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

Siacoin average directional index 22.87
Siacoin positive directional indicator 51.95
Siacoin negative directional indicator 22.25

 

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 Siacoin.

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

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

Siacoin 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 Siacoin 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 Siacoin follows a positive trend. The positive directional indicator (51.95) is higher than the negative directional indicator (22.25). When this situation occurs, the trend can be identified as a positive trend for the Siacoin.

Allthough the trend is positive, the current situation of the trend of Siacoin is not that strong. The ADX gives us a value of 22.87, which means that the trend currently followed by Siacoin is a weak one. To get clear signals from the ADX for Siacoin, you should wait until the ADX moves upwards of 25.

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

 

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