PROTECTED SOURCE SCRIPT
Directional Movement Histogram
What the Indicator Is
Your script builds a Directional Movement Histogram. This is a visual tool that shows whether buyers (bulls) or sellers (bears) are currently stronger in the market.
How It Works in Simple Terms
It looks at how much prices are moving upward versus downward over a chosen period (default is 14 bars).
From that, it calculates two measures:
+DI (Directional Indicator Plus): strength of upward moves.
–DI (Directional Indicator Minus): strength of downward moves.
Then it compares the two by subtracting one from the other.
If the result is positive, it means upward strength is greater.
If the result is negative, it means downward strength is greater.
What You See on the Chart
The script plots a histogram (bar chart).
Blue bars appear when upward strength dominates (bullish).
Red bars appear when downward strength dominates (bearish).
The height of the bars shows how strong the dominance is.
Why It’s Useful
Instead of looking at two separate lines (+DI and –DI), you get a single, easy‑to‑read histogram.
It quickly tells you who’s in control:
Blue = buyers are stronger.
Red = sellers are stronger.
This can help in spotting shifts in market momentum and potential trend changes.
Your script builds a Directional Movement Histogram. This is a visual tool that shows whether buyers (bulls) or sellers (bears) are currently stronger in the market.
How It Works in Simple Terms
It looks at how much prices are moving upward versus downward over a chosen period (default is 14 bars).
From that, it calculates two measures:
+DI (Directional Indicator Plus): strength of upward moves.
–DI (Directional Indicator Minus): strength of downward moves.
Then it compares the two by subtracting one from the other.
If the result is positive, it means upward strength is greater.
If the result is negative, it means downward strength is greater.
What You See on the Chart
The script plots a histogram (bar chart).
Blue bars appear when upward strength dominates (bullish).
Red bars appear when downward strength dominates (bearish).
The height of the bars shows how strong the dominance is.
Why It’s Useful
Instead of looking at two separate lines (+DI and –DI), you get a single, easy‑to‑read histogram.
It quickly tells you who’s in control:
Blue = buyers are stronger.
Red = sellers are stronger.
This can help in spotting shifts in market momentum and potential trend changes.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.