LC, never had time to answer you yesterday. I also very much like the ADX indicator and use it for my EOD trading. I pay more attention to cross overs of the DI+ and DI- with each other and the ADX line. My favorite is when a DI line crosses under a rising ADX line. This is one of my key signals to reverse positions, but the last signal in Sept did not work out. This market keeps tempting us with shorts, but always recovers and rises more. The train will stop sometime, but the 7% rise of the Q's in Oct was outstanding. You keep talking about a rising ADX line, I will start watching for that and see if I can gleam any info from it. Right now (on EOD day charts) the ADX and both DI's are all three very low and right on top of each other, no hint of where the market is going.
For NARS trading I also watch Gloe's Chaikin Osc as you do, vol, MACD, and trend lines (and of course CCI). I did program ADX up once based on one of your posts, but seemed that the MACD gave me the same signals that I was looking for. You are right, no one indicator can tell the whole story. If CCI, Chaikin, and MACD all show a reverse, I go to cash and wait for the next NARS signal.
It is interesting to hear that you wait for a 3/8 cross over. From my paper trading of NERS, that signal seemed to always be late except (as I now understand)when vol is low. It is still late, but with low vol the market is usually not going anywhere too fast and waiting avoids lots of whipsaws. I know you are a good trader so I guess it works well for you. Thanks for info.
Jon
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