ADX with Trend Coloring

9 Jan

The ADX indicator helps identify the strength of a trend, while the DI+ and DI- values indicate the direction. In this script, the ADX's color reflects the dominant trend: green for long (DI+ is stronger and above its high limit) and red for short (DI- is stronger and above its high limit). DI+ and DI- are categorized into three levels based on user-defined thresholds. These levels indicate weak, moderate, or strong trend activity, providing insights into potential trade setups by aligning the ADX strength with the directional indicators.

The code has been updated to include two user-defined limits for both DI+ and DI-, allowing for three distinct ranges (e.g., 0-15, 15-30, 30-100) with corresponding colors.

The script now adjusts the ADX color dynamically to reflect the trend, based on whether DI+ or DI- is stronger. It uses green for long trends and red for short trends.

10 Jan

Nota Keluaran

The "ADX with Trend Coloring" indicator combines the Average Directional Index (ADX) with color-coded Directional Indicators (DI+) and (DI-) to visually represent market trends. The ADX line changes color based on the strength of the trend, with green indicating a strong uptrend, red indicating a strong downtrend, and no color change for weak or no trend. Additionally, the indicator includes a user-defined threshold to highlight when the difference between DI+ and DI- is significant, further adjusting the ADX color to either green or red based on which directional indicator is stronger. This allows for a more intuitive visual representation of market conditions and trend strength.