No. The ADX(2) and ADX(14) are important indicators but, they must be taken along with all other indicators because of the amount of manipulation and dilution in trading stocks. My primary and most important indicators are the daily moving averages!! 2,3,4,5,10,20,50,100 and 200dma. They tell the true story of what has happened and what is likely to happen in the future direction of any stock. A gap and trap or diluting MM on the ASK can make the ADX irrelevant very quickly. A indicated positive crossover becomes a negative crossover without much warning. The Accum/Dist(2) and the TRIX(3/3) are more stable indicators of that coming move and direction. The 2/3/4DMA crossover is your best indicator for a safe entry and exit and the 5/10/20 DMA crossover gives you the most stable indicator of continuation of a rise or fall. Beyond that the ADX(14) and MACD(2,4,9) AND LONGER can tell you if you have strong support for an anticipated move up or down. ALL SUPPORT/RESISTANCE AND ENTRY/EXIT POINTS CAN BE SAFELY TAKEN FROM THE DAILY MOVING AVERAGES ALONE. IF YOU CHART ONLY THOSE AND HAVE NO LEVEL 2, YOU CAN SAFELY NAVIGATE ANY STOCK UP AND DOWN LIMITING THE AMOUNT OF YOUR LOSES AND INCREASING THE AMOUNT OF YOUR GAINS. THE TREND IS YOUR FRIEND AND THE DAILY MOVING AVERAGES REFLECT THE TREND WHETHER YOU ARE USING A 1MIN, 10MIN, 30MIN, 60MIN, HOURLY, DAILY, WEEKLY OR LONGER PERIOD CHART. What I have stated here applies to all markets from NYSE to OTC. News, Momentum, PUMP AND DUMPS, Dilution, One Day Wonders, True Share Structure and all Fundamentals are reflected in the charts so if you focus only on the charts and ignore all of the noise you can trade with less stress and you will notice the warning signs more quickly than others. I hope this answers your questions and I wish you success in your trading. Now look at the AJAC charts I posted again and tell me what you see. That will be worth reading.
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