Directional Movement Index and ADX

DMI (ADX) consists of three indicators that measure a trend’s strength and direction. Three lines compose the Direction Movement Index (DMI): ADX (white/gray line), DI+ (green line), and DI- (orange line). The Average Directional Index (ADX) line shows the strength of the trend. The higher the ADX value, the stronger the trend. The ADX line is white when it has a positive slope, otherwise it is gray.

The Plus Direction Indicator (DI+) and Minus Direction Indicator (DI-) show the current price direction. When the DI+ is above DI-, the current price momentum is up. When the DI- is above DI+, the current price momentum is down.

Trend detection: When the background has a bluish color there is an upward trend, and when the background has a reddish color there is a downward trend.

Includes an information panel that shows the current value and trend of some well-known indicators.

Nota Keluaran

The MFI indicator was added and the CCI was replaced by the VWAP CCI.

Added "Heatmap Volume". This indicator colors the candles according to the volume traded. The calculation of the heat map zones is done as follows: how many standard deviations the volume are distant from the average volume?

Nota Keluaran

Pine Script v6 Update

The 'MACD-V Volatility Normalized Momentum' and 'Squeeze Momentum Indicator' were added.

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