DMI
CHOP Zone Entry Strategy + DMI/PSAR ExitThis is a Strategy with associated visual indicators and Long/Short and Reverse/Close Position Alerts for the Choppiness Index (CHOP) . It is used to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). CHOP is not directional, so a DMI script was ported into this strategy to allow for trend confirmation and direction determination; it consists of an Average Directional Index (ADX) , Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) . In addition, a Parabolic SAR is also included to act as a trailing stop during any strong trends.
Development Notes
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This indicator, and most of the descriptions below, were derived largely from the TradingView reference manual. Feedback and suggestions for improvement are more than welcome, as well are recommended Input settings and best practices for use.
www.tradingview.com
www.tradingview.com
www.tradingview.com
Recommend using the below DMI and PSAR indicators in conjunction with this script to fully visualize and understand how entry and exit conditions are chosen. Variable inputs should correlate between the scripts for uniformity and visual compatibility.
THANKS to LazyBear and his Momentum Squeeze script for helping me quickly develop a momentum state model for coloring the Chop line by trend.
Strategy Description
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CHOP produces values that determine whether the market is choppy or trending . The closer the value is to 100 , the higher the choppiness levels , while the closer it is to 0 , the stronger the market is trending . Territories for both levels, and their associated upper and lower thresholds, are popularly defined using the Fibonacci Retracements, 61.8 and 38.2.
Basic Use
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CHOP is often used to confirm the market condition to help you stay out of sideways markets and only enter when there is movement or imminent explosions. When readings are above the upper threshold, continued sideways movement may be expected, while readings below the lower threshold are typically indicative of a continuing trend. It is also used to anticipate upcoming trendiness changes, with the general belief that extended periods of consolidation (sideways movement) are followed by extended periods of strong, trending, directional movement, and vice versa.
One limitation in this index is that you must be cautious in deciding whether the range or trend will likely continue, or if it will reverse.
Confidence in price action and trend is higher when two or more indicators are in agreement -- while this strategy combines CHOP with both DMI and PSAR, we would still recommend pairing with other indicators to determine entry or exit trade opportunities.
Recommend also choosing 'Once Per Bar Close' when creating alerts.
Inputs
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Strategy Direction - an option to only trade Short, Long, Both, or only in the direction of the Trend (Follow Trend is the Default).
Sensitivity - an incremental variable to test whether the past n candles are in the same trend state before triggering a delayed long or short alert (1 is the Default). Can help filter out noise and reduces active alerts.
Show Chop Index - two visual styles are provided for user preference, a visible Chop line with a background overlay, or a compact column and label only view.
Chop Lookback Period - the time period to be used in calculating CHOP (14 is the Default).
Chop Offset - changing this number will move the CHOP either forwards or backwards relative to the current market (0 is the Default).
Smooth Chop Line and Length - if enabled, the entered time period will be used in calculating a smooth average of the index (Enabled and 4 are the Defaults).
Color Line to Trend Direction - toggles whether the index line is colored to visually depict the current trend direction (Enabled is the Default).
Color Background - toggles the visibility of a background color based on the index state (Enabled is the Default).
Enable DMI Option - if enabled, then entry will be confirmed by and dependent on the ADX Key Level, with any close or reversal confirmed by both ADX and +/-DI to determine whether there is a strong trend present or not (Enabled is the Default).
ADX Smoothing - the time period to be used in calculating the ADX which has a smoothing component (14 is the Default).
DI Length - the time period to be used in calculating the DI (14 is the Default).
ADX Key Level - any trade with the ADX above the key level is a strong indicator that it is trending (23 to 25 is the suggested setting).
Enable PSAR Option - enables trailing stop loss orders (Enabled is the Default).
PSAR Start - the starting value for the Acceleration Force (0.015 is our chosen Default, 0.02 is more common).
PSAR Increment - the increment in which the Acceleration Force will move (0.001 is our chosen Default, 0.02 is more common).
PSAR Max Value - the maximum value of the Acceleration Factor (0.2 is the Default).
Color Candles Option - an option to transpose the CHOP condition levels to the main candle bars. Note that the outer red and green border will still be distinguished by whether each individual candle is bearish or bullish during the specified timeframe.
Note too that if both DMI and PSAR are deselected, then close determinations will default to a CHOP reversal strategy (e.g., close long when below 38.2 and close short when above 61.8). Though if either DMI or PSAR are enabled, then the CHOP reversal for close determination will automatically be disabled.
Indicator Visuals
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For the candle colors, black indicates tight chop (45 to 55), yellow is loose chop (38.2 to 45 and 55 to 61.8), dark purple is trending down (< 38.2), and dark blue is trending up (> 61.8).
The background color has additional shades to differentiate a wider range of more levels…
• < 30 is dark purple
• 30 to 38.2 is purple
• 38.2 to 45 is light purple
• 45 to 55 is black
• 55 to 61.8 is light blue
• 61.8 to 70 is blue
• > 70 is dark blue
Long, Short, Close, and Reverse labels are plotted on the Chop line, which itself can be colored based on the trend. The chop line can also be hidden for a clean and compact, columnar view, which is my preferred option (see example image below).
Visual cues are intended to improve analysis and decrease interpretation time during trading, as well as to aid in understanding the purpose of this strategy and how its inclusion can benefit a comprehensive trading plan.
DMI and Trend Strength
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To analyze trend strength, the focus should be on the ADX line and not the +DI or -DI lines. An ADX reading above 25 indicates a strong trend , while a reading below 20 indicates a weak or non-existent trend . A reading between those two values would be considered indeterminable. Though what is truly a strong trend or a weak trend depends on the financial instrument being examined; historical analysis can assist in determining appropriate values.
DMI exits trade when ADX is below the user selected key level (e.g., default is 25) and when the +/- DI lines cross (e.g., -DI > +DI exits long position and +DI > -DI exits short position).
PSAR and Trailing Stop
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PSAR is a time and price based indicator that excels at measuring direction and duration, though not the actual strength of a trend, which is why we use this in conjunction with DMI. It is also included in this script as a trailing stop option to maximize gains during strong trends and to mitigate any false ADX strengthening signals.
This creates a parabola that is located below the candle during a Bullish trend and above during a Bearish trend. A buy or reversal is signaled when the price crosses above or below the Parabolic SAR.
Long/Short Entry
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1. CHOP must be over 61.8 (long) or under 38.2 (short).
2. If DMI is enabled, then the ADX signal line must be above the user selected Key Level (default is 25).
3. If Sensitivity is selected, then that past candle must meet the criteria in step 1, as well as all the intermediate candles in between.
4. If "Follow Trend" is selected and PSAR is enabled, then a long position can only open when the momentum and PSAR are in an uptrend, or short when both are in a downtrend, to include all intermediate candles if the Sensitivity option is set on a past candle.
Close/Reverse
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1. If DMI is enabled, then a close flag will be raised when the ADX signal drops below the Key Level (of 25), and -DI crosses over +DI (if long), or +DI crosses over -DI (if short).
2. If PSAR is enabled, then a close flag will be raised when the current trend state is opposite the last state.
3. If both DMI and PSAR are disabled, then a close flag will be raised if the Chop line drops under 38.2 (if long) or goes over 61.8 (if short).
4. If a Long or Short Entry is triggered on the same candle as any of the above close flags, then the position will be reversed, else the position will be closed.
Strategy Alerts
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1. Long Entry
2. Short Entry
3. Reverse
4. Close
The provided backtest result is based on a position sizing of 10% equity with 100k initial capital. When testing SPX, disabling the DMI performed the best, but EURUSD performed poorly without it enabled, and TSLA had a small reduction in net profit. Timeframe likewise differed between commodities with TSLA performing best at 30M, SPX at 15M, and EURUSD at 4H. I do not plan on using this as a standalone strategy, but I also was expecting better results with the inclusion of EMI and PSAR to compliment the CHOP. Key elements of this script will likely be included in future, more holistic strategies.
Disclaimer
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Past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script are not intended to provide any financial advice. Trade at your own risk.
No known repainting, though there may be if an offset is introduced in the Inputs. I did my best not to code any other variables that repaint, but cannot fully attest to this fact.
MrBS:Directional Movement Index [Trend Friend Strategy]This goes with my MrBS:DMI+ indicator. I originally combined them into one, but then you cannot set alerts based on what the ADX and DMI is doing, only strategy alerts, so separate ones have more flexibility and uses.
Indicator Version is found under "MrBS:Directional Movement Index " ()
//// THE IDEA
The majority of profits made in the market come from trending markets. Of course there are strategies that would say otherwise but for the majority of people, THE TREND IS YOUR FRIEND (until the end). The idea is to follow the trend, entering once it has established its self and exiting positions when the trend weakens. This strategy gives a rough idea of the returns produced from following purely the ADX signals. At first Heikin Ashi values were used for the calculation but the results show it's not that effective. The functionality to switch between calculation types has been left in, so we can uses HA candle data to generate signals from while looking at an OHLC chart, if we want to experiment. Due to the way strategies work, we are unable to get reliable results when running the strategy on the HA chart even if we are calculating the signals from the real OHLC values. It is best to always run strategies on standard charts.
When using this strategy, I look for confirmation of the signal based on stochastic (14:3:6) direction, reversal level of stochastic, and divergance, to add confidence and adjust position size accordingly. I am going to try and code some version of that in future updates, if anyone can help or has suggestions please drop me a message.
//// INDICATOR DETAILS
- The default settings are for optimized Daily charts, for 4 hour I would suggest a smoothing of 2.
- The default values used for calculation are the Real OHLC, we can change this to Heikin Ashi in the menu.
- The strategy enters a position when ADX crosses the threshold level, and closes the position when ADX starts to fall.
- There is a signal filter in the form of a 377 period Hull Moving Average, which the price must be above or bellow for long and short positions respectively.
- The strategy closes the position when a cross-under of the ADX and its 4 period EMA. This is an attempt to stay into positions longer as sometimes the ADX will fall for 1 bar and then keep rising, while the overall trend is strong. The downside to this is that we exit trades later and this affects our max drawdown.
DMI Modified StrategyAs promised a strategy of my DMI Modified indicator! (See link below for indicator).
=== How does it work? ===
Instead of plotting the positive direction of +DI and negative direction for -DI, we subtract the +DI with the -DI on scales of 100 to -100.
The result is plotted with a oscillator to identify the current trend.
DMI Modified supports multiple moving averages (default is EMA with length of 9). You can disable moving averages smoothing in settings.
//== About the Strategy ==
Buys when the line crosses over the Zero line.
Sells when the line crosses under the Zero line.
The DMI modified strategy is pretty much clean, without any filtering besides the DMI Modified and a moving average to smooth it.
Works best to catch a trend and more suitable for 1 hour and above time frame. Stay tuned for updates.
On sideways you will get more false signals. as i said , it's a clean version without much bells and whistles for you to experiment.
== Oscillator Colors ==
GREEN : Strong Up Trend as DMI Modified is above zero line and DMI modified is ascending.
LIGHT GREEN: Still up trend but weakening as DMI modified is above zero but descending.
RED: Strong Downtrend as DMI Modified is below zero line and DMI modified is descending.
LIGHT RED: Still down trending but weakening as DMI modified is below zero but ascending.
== Notes ==
Short is enabled by default.
Bar coloring is disabled by default.
== Links ==
DMI modified indicator:
Like if you like and Enjoy! Follow for more upcoming indicators/strategies: www.tradingview.com
MrBS:Directional Movement Index [Trend Friend]I started this project with the goal of making a DMI/ADX that was easy to read at a glance. Its since become a little more then just colouring the slopes. The majority of the time, the best returns come from trending markets (THE TREND IS YOUR FRIEND... until the end) and I hope this helps people become good friends with the trends.
----- Features
- A function to change the values used for calculation from real OHLC and Heikin Ashi. This allows us to look at different chart types but see the specific ADX we choose. Originally HA values were used for calculation since it is easier to see trend on HA charts. However when testing it was not as effective as the ADX calculated from the real values on normal charts. So the default function was flipped and real OHLC values are used as default.
- Two ADX plots so we can see two different smoothness's. With a smoothing of 2, a slight slow down in PA can cause a negative slope but the smoother ADX will stay trending unless its a major change. 2nd ADX is slightly transparent.
- There is an EMA of the main ADX that can be used as a exit signal filter. If the ADX starts going down but has not crossed the EMA we would stay in a trade.
- Plots (excluding EMA) are coloured based on positive or negative slopes.
- Fibonacci numbers have been used to create different trend levels, instead of the standard 25, 50, 100.
- Alerts for every useful situation to help save time and not have to manually enter levels or crosses each time.
- In the code there are 8 EMAs and 3 ADXs but it was too much so they have been slashed out, but are fully functional if you choose to activate and use them. To reactivate the 3rd ADX delete slashes on lines 50, 65, 78, 92-95, 165. The slashed out EMAs are much more obvious and easy to reactivate.
Colours:
ADX going up = Green
ADX going down = Red
DMI+ going up = Bright Aqua
DMI+ going down = Turquoise / Dark Aqua
DMI- going up = Bright Purple
DMI- going down = Dark Purple
EMA = White (50% transparent)
If there is anything that would be useful, let me know and I will add it in. I've already got some improvements/changes planned and some of my notes can be found in the code.
There is also a strategy to go with this indicator that will be uploaded very soon.
Crypto Directional Movement Index DMI/ADXCrypto ADX + DMI
This indicator is a customised version of the ADX + DMI by J. Welles Wilder in 1978, with default settings optimal for cryptocurrencies.
What is the DMI (ADX) Indicator?
According to Investopedia:
DMI (ADX) consists of three indicators that measure a trend’s strength and direction. Three lines compose the Direction Movement Index (DMI): ADX (black line), DI+ (green line), and DI- (red line). The Average Directional Index (ADX) line shows the strength of the trend. The higher the ADX value, the stronger the trend. The color of the lines can be altered, but black, green, and red are the default in most software.
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.
This Version
The ADX default value has been changed to from 14 to 2 (optimal for cryptocurrencies). The background flashes red when the –DMI goes above the HZ1 threshold and green when the +DMI does the same. There is an option to change it so that it’ll only flash when the ADX and the DMI are both above the threshold. The ADX changes color when above HZ1.
Red and green plotshapes appear at DMI crossovers and three horizontal lines have also been added.
Any suggestions are most welcome
DMI ModifiedThis is a Directional Movement Index (DMI) with a twist, instead of plotting the positive direction of +DI and negative direction for -DI, we subtract the +DI with the -DI on scales of 100 to -100.
The result is plotted with a oscillator to identify the current trend.
DMI Modified supports multiple moving averages (default is JMA with length of 3). You can disable moving averages smoothing in settings.
== About the indicator ==
The Directional Movement Index, or DMI, is an indicator developed by J. Welles Wilder in 1978 that identifies in which direction the price of an asset is moving.
The indicator does this by comparing prior highs and lows and drawing two lines: a positive directional movement line (+DI) and a negative directional movement line (-DI)
In our case we do not draw the two lines, but the result of the subtraction of the two.
== Oscillator Colors ==
GREEN : Asset is above zero line with a strong up trend.
LIGHT GREEN: Asset is above zero line but up trending might be weakening.
RED : Asset is below zero line with a strong downtrend.
LIGHT RED: Asset is below zero line but down trending might be weakening.
== Notes ==
Can also be used to find divergences.
Bar coloring is disabled by default
Like if you like and Enjoy!
There is an idea to make a new strategy combined with DMI Modified (this script) and another script, hench, Follow.
Cyber Momentum V2This Oscillator is another version of my previous Oscillator Cyber Momentum … in this version the CCI formula added to the core calculation therefore there is small differential behavior rather than Cyber Momentum because of different calculation methods …
But both of them are in the same concept; the most optimized signals are those that are in confluence of Cyber Momentum and Cyber Momentum V2 ...
ADX DMI 3x - Dingue- ADX DMI DINGUE -
Français (bottom) / English
The best baddest - The Ultimate ADX DMI indicator for you to use.
Good to clearly see who's in control. Bear Bull
Includes :
- 3x ADX
- 3x DMI
- 3 line system which uses DMI calculation and put it in a single line instead of positive / negative.
Manual or Auto settings which adjusts length based on time frame used on screen.
Color coded for clear direction.
Squeeze shows when both sides are close together and this is when the trend might change or keep going.
Suggestions are welcome, ask below for any questions.
Try my other "DINGUE" indicators.
Thanks.
----------------- Français -----------------
Le meilleur, le plus génial - L'ultime indicateur ADX DMI pour votre utilisation
Très bon pour voir qui est en contrôle.
Inclu :
- 3x ADX
- 3x DMI
- 3 lignes qui remplace les lignes positives négatives du DMI pour une visualisation plus simple.
Paramétrage manuel ou automatique qui ajuste les valeurs selon la grandeur de chandelles utilisée à l'écran.
Codé avec des couleurs pour une visibilités de la direction claire.
Squeeze qui montre quand les 2 côtés sont près l'un de l'autre et quand un changement de contrôle ou une continuation de la tendance se produit.
Suggestions appréciées, pour toutes questions, écrire dans les commentaires plus bas.
Essayez les autres indicateurs "DINGUE".
Merci.
Simple Moving Average + ADX + DMI + Time Range Test
Use long and short moving average to look for a potential price in/out. (default as 14 and 7, bases on the history experience)
ADX and DMI to prevent the small volatility and tangling MA.
This script allows you to set the beginning & end time to test the bullish & bearish market.
If you want an indicator version, here is it.
Thanks.
DMI-ADX HistogramThe Average Direction Index (ADX) coupled with the Direction Movement Index (DMI), developed by J. Welles Wilder, is a popular indicator that measures trend direction and strength.
The AX line (blue) is used to show the strength of the current trend. It does not tell you the trend direction. The under laid histogram shows relative movements of the price with green showing positive momentum and red showing negative momentum. Use these ADX and DMI together to find trend strength and direction.
- ADX line below 20 indicates that the underlying is in accumulation/distribution.
- ADX line above 20 mean that the underlying is trending with over 60 being very strong.
*When the ADX line is below 20 it is likely to see many reversal signals on the DMI Histogram. It is best to use the DMI signals when the ADX line is above 20 or higher. This is also a good level to play around with.
Motivation
Normally the direction movements are plotted as lines with the DI+ being green and the DI- being red. When the DI+ (green) crosses over DI- (red) this may indicate a buy signal, and vice versa. I found this visual representation made it difficult to see signals as well as lacked the ability to easy see the relative strength of other moves.
I have also noticed that the histogram values will periodically cross the ADX line, but not for very long periods. This could be a useful signal to explore further in the future.
In this image the top indicator is using the normal DI+/- lines, where the bottom indicator is using an absolute histogram.
[astropark] DMI/ADX strategy [strategy]Dear Followers,
today I'm happy to share with you my DMI / ADX Strategy .
It provides directional trend information, so if a bullish or a bearish trend is going to start. Statistically it works better on lower timeframes (from 5 minutes to 1 hour).
It is both a Swing and Scalping Strategy indicator , based on a simple trend following theory , good for trading FOREX, Indexes, Stocks, Commodities and Cryptocurrencies.
To help in Taking Profits, the strategy integrates 2 special other than bull/bear signals:
Overbought and Oversold RSI Signals , which appear both as darker background (the darker the color, the more the price is in overbought/oversold) and green "ob"-"tp" / red "os"-"tp" labels (they optionally pop up only on a configurable stronger overbought/oversold condition) (you can enable/disable it optionally)
Peak Profit Tracker , which resets every time a new trade starts and keeps track of price fluctuation during the trade: the message is don't be too greedy and take profits or lock them with a stoploss in profit (you can enable/disable it optionally)
You can edit many options in order to
have more/less bull/bear signals
enable/disable showing bull/bear signals
enable/disable showing RSI TP signals (you can edit RSI length, overbought (OB) and oversold (OS) levels)
enable/disable showing peak profits on each trade
The user who wants to use this strategy, especially via an automated bot, must always set a stoploss (example 150$ from entry on bitcoin ) or use a proper risk management strategy .
This is not the "Holy Grail", so use it with caution. It's highly suggested to use a proper money management .
This script will let you backtest performance of the indicator based on bear/bull signals.
You can find the alarms version by searching for my DMI / ADX Strategy and choosing the "alarms" named.
Here there are some examples how this DMI / ADX strategy works on many markets:
LTC/USDT 15m
BTC/USD 15m
BNB/BTC 15m
ETH/USD 15m
GOLD (XAU/USD) 15m
GOLD (XAU/USD) 1h
FB 15m
AAPL 15m
TSLA 1h
BANKNIFTY Index 5m
NIFTY 50 Index 5m
This is a premium indicator , so send me a private message in order to get access to this script .
Squeeze Momentum with DMI confirmation strategyThe script combines Squeeze Momentum and Directional Movement Index (DMI) confirmation. It provides long and short entry and closure daily trade signals, suitable for Spot, Marginal and Futures exchanges
The strategy components are customizable:
Change risk management settings (take profit, stop loss, trailing)
Change signals filters
Enable TrueRange or disable
Change lengths and periods of components
Advantages:
1. Deal start condition includes the following filters and requirements:
Momentum value is adjusted using a relative proportion of volume at each timeframe scale to exclude a chance of opening position at a low impulse stage
Squeeze momentum trigger condition is automatically checked before a position is opened
+DI , -DI and ADX values are taken into account to confirm the trend direction
2. Exit positions using unique risk management settings for each asset
3. Strategy allows to connect broker or automatic trading system using web hook alerts
If you want to obtain access to the strategy please send us a personal message
Support and Resistance levels - DMI - DI trailing stop linesThis can be used to compliment the Directional Movement Index if used as a standalone trading system. In addition to using the ADX and DI lines, a trailing stop can be used when the DI lines cross. If the plus line is above to show a buy signal, then the low of the price of when which the cross took place is used as a trailing stop. If the minus line is above to show a sell signal, then the high of the price of when which the cross took place is used as a trailing stop. This helps cut losses sooner whenever the price would end up going through these trailing stops or support/resistance levels yet the DMI system would show an upward or downward move.
[blackcat] L1 Composite RSI-DMI Reversal IndicatorLevel: 1
Background
The Relative Strength Index (RSI) developed by J. Welles Wilder is a pulse oscillator that measures the speed and change of price movements. The RSI hovers between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when below 30. Signals can be generated by looking for divergences and error fluctuations. RSI can also be used to identify the general trend.
The Directional Movement Index (DMI) is an indicator developed by J. Welles Wilder in 1978 that indicates the direction in which the price of an asset is moving. The indicator compares previous highs and lows and draws two lines: a positive directional movement line (+ DI) and a negative directional movement line (-DI). An optional third line called Directional Movement (DX) shows the difference between the lines. When + DI is above -DI there is more upward pressure than downward pressure in price. When -DI is above + DI, the price continues to fall. This indicator can help traders estimate the direction of the trend. Crossovers between the lines are also sometimes used as trading signals to buy or sell.
Function
L1 Composite RSI-DMI Reversal Indicator combines J. Welles Wilder's RSI and DMI indicators together to identify trend reversals.
Key Signal
swinglow --> swing signal
trend --> trend signal to identify top reversal
Pros and Cons
Pros:
1. it exhibit leading character
2. it can disclose top and bottom reversals
Cons:
1. noise exists
2. depends on market and trading pairs
Remarks
Composite J. Welles Wilder indicator
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
ADX + DI x Upgraded to Pine v4 x KingThiesAverage Directional Movement Index
Momentum based tool to measure trend strength on scale of 1-100
Similar to the aroon but incorporates a 3rd measure, while aroon uses two
The majority of these calculations were pre-existing in older pine scripts but have since been updated
signals are given when -DI and +DI cross, ADX illustrates corresponding strength at time of cross
Full Intro
ADX can help investors to identify trend strengths, as di - di determines the trend direction, while d - d is an impulse indicator. If the ADX is below 20, it can be considered impulsive, while it is above 25 on a trend line.
A trading signal can be generated when the di - DI line is switched to d - d and vice versa. If the di-line crosses and the ADX is above 20 (ideally 25), a potential buy signal could ebb away.
If the ADX is above 20, there is the possibility of potential short selling if the DI crosses over DI. You can also use crosses to get out of the current deal if you need it for a long time.
If the di-line is crossed and the Adx is below 20 (or 25), there may be opportunities to enter the potential for short trading, but only if di are above or below DI or if the price is trendy and may not prove to be the ideal time to start trading.
Up/Down Trend MarkerA simple indicator of trend by using 3 EMAs of multiplies of 2, 5 and 10, filtered by standard positive/negative directional movements (DM) which are the base of Average Directional Index (ADX).
The "Trend Strength" option is included to set the EMA multipliers and also the variation between DM+ and DM- which interpret the trend as a weak or a strong one.
Note that the markers only point to almost the beginning of the trends and just change the direction when the opposite trend is detected.
Feel free to send me your opinions.
indicatorenindicatoren is one non-overlaying indicator with multiple oscillators combined.
indicatoren provides the following functions:
- RSI (Relative Strength Index)
- Stochastics (representation of mathematically calculated momentum)
- Configurable MAcd (Moving Average Convergence Divergence) visually compressed to 0-100 range
- DMI & ADX (Directional Movement Index & Average Directional indeX) with visual lowering option
- Bollinger Bands direction
- COMBI Average
- Hourly, 4Hourly, Daily and Weekly time-indications
The length and appearance for each element can be adjusted. The MAcd has several modes and the brightness
of its elements can be adjusted with one single control.
The COMBI Average consists of a weighted average of the RSI, Stochastics, MAcd, DMI and the BB Direction.
It has its own definable length. Depending on the timeframe used, a visual indication of Hours, 4 Hours,
Days and Weeks might prove handy, especially on shorter timeframes.
Displaying this number of oscillators all at once may look like a carnival, therefore, each function can easily
be switched on or off. indicatoren can be used as just an advanced MAcd for example, or have it show the
combination of functions suiting you the most.
In order to combine a MAcd (+/- infinite scale) with Stochastics or RSI (0-100 scale), the MAcd is being visually
compressed and a Visual Multiplier parameter is provided to make it fit under any circumstances on any timeframe.
The DMI +/- and ADX scale are divided by 2.5 by default. Having the DMI’s on the lower portion of the indicator
does still provide decent info at a glance while it is not in the way of the other oscillators.
Books have been written and many articles and videos have been made about the meaning and possible applications
of these oscillators in trading.
The unique combination of these oscillators within indicatoren , together with the simple, yet useful,
visual options, make it to quite a versatile indicator on every timeframe on any chart.
GuidoN - November 2019, July 2020
[WJ] - ADX v2 [DMI, Alerts, Histogram, Customizable]A handy all-in-one package for DMI and ADX
Color-coordinated line for DMI with an EMA and histogram to gauge momentum, mark potential reversals, and quickly gather all the information you need to make your decisions.
Quick take-aways:
- Color of the ADX line indicates the current trend
- An ADX below the EMA indicates a potentially falling/reversing trend
- Customizable line w/ alerts for ADX crossovers
- Histogram to help catch potential reversals faster, and to gauge the momentum
Please let me know what you think, and in any features you think would increase the effectiveness of this amazing tool.
Kenan's Deluxe Combo Indicator Scalper Version ScriptThis is a combo strategy of sorts. I've been able to come up with this strategy after a lot of research.
Under Normal circumstances, when people look at dozens of indicators and they all signal, they open positions. So I decided to save people the trouble and put the major indicators together in a strategy.
All of the classic cross strategies usually give a lot of signal. Some of these signals are unnecessary and incorrect signals. Combining leading indicators. I tried to avoid the faulty signals.
Indicators and oscillators included in this strategy are:
1. Ema 5/13/21
2. Macd
3. Macd Dema
4. Ichimoku
5. Dmi
6. Stochastic
7. Aroon
8. Bollinger Band
9. Rsi
10. Chande Momentum Oscillator
11. Exponential Ease of Movement ( Eom )
12. Klinger Oscillator
13. Stochastic RSI
14. Ultimate Oscillator
15. Woodies CCI
16. Rate Of Change Lenght( Roc ) oscillator
17. WaveTrend Oscillator . It was created by @fskrypt.
18. Ehlers Adaptive CG Indicator . It was created by @LazyBear
19. Insync Index. It was created by @LazyBear
This script works by listening to the indicators and oscillators above. Opens new position after receiving signal verification signal from all
So how does this strategy close your position (optional).
1. You can close the position with the trailing stop option.
2. You can close the position according to the Rsi limits. To give an example. After a long position is opened, you can close the position after the rsi has risen above 70.
3. You can close the position according to the Bollinger Band . After a position is opened, you can close the position after the price moves out of the bollinger Band .
You can also change the values of indicators as desired. If you get better results. I would appreciate it if you could contact me via comment or private message.
I set the commission rate at 0.075 percent. If you want, you can change the settings yourself and make backtest.I changed the default settings for some indicators.
Kenan's Deluxe Combo Indicator Alert ScriptThis is a combo strategy of sorts. I've been able to come up with this strategy after a lot of research.
Under Normal circumstances, when people look at dozens of indicators and they all signal, they open positions. So I decided to save people the trouble and put the major indicators together in a strategy.
All of the classic cross strategies usually give a lot of signal. Some of these signals are unnecessary and incorrect signals. Combining leading indicators. I tried to avoid the faulty signals.
Indicators and oscillators included in this strategy are:
1. Ema 5/13/21
2. Macd
3. Macd Dema
4. Ichimoku
5. Dmi
6. Stochastic
7. Aroon
8. Bollinger Band
9. Rsi
10. Chande Momentum Oscillator
11. Exponential Ease of Movement ( Eom )
12. Klinger Oscillator
13. Stochastic RSI
14. Ultimate Oscillator
15. Woodies CCI
16. Rate Of Change Lenght( Roc ) oscillator
17. WaveTrend Oscillator . It was created by @fskrypt.
18. Ehlers Adaptive CG Indicator . It was created by @LazyBear
19. Insync Index. It was created by @LazyBear
This script works by listening to the indicators and oscillators above. Opens new position after receiving signal verification signal from all
So how does this strategy close your position (optional).
1. You can close the position with the trailing stop option.
2. You can close the position according to the Rsi limits. To give an example. After a long position is opened, you can close the position after the rsi has risen above 70.
3. You can close the position according to the Bollinger Band . After a position is opened, you can close the position after the price moves out of the bollinger Band .
You can also change the values of indicators as desired. If you get better results. I would appreciate it if you could contact me via comment or private message.
I set the commission rate at 0.075 percent. If you want, you can change the settings yourself and make backtest.I changed the default settings for some indicators.
Kenan's Deluxe Combo Indicator StrategyThis is a combo strategy of sorts. I've been able to come up with this strategy after a lot of research.
Under Normal circumstances, when people look at dozens of indicators and they all signal, they open positions. So I decided to save people the trouble and put the major indicators together in a strategy.
All of the classic cross strategies usually give a lot of signal. Some of these signals are unnecessary and incorrect signals. Combining leading indicators. I tried to avoid the faulty signals.
Indicators and oscillators included in this strategy are:
1. Ema 5/13/21
2. Macd
3. Macd Dema
4. Ichimoku
5. Dmi
6. Stochastic
7. Aroon
8. Bollinger Band
9. Rsi
10. Chande Momentum Oscillator
11. Exponential Ease of Movement ( Eom )
12. Klinger Oscillator
13. Stochastic RSI
14. Ultimate Oscillator
15. Woodies CCI
16. Rate Of Change Lenght( Roc ) oscillator
17. WaveTrend Oscillator . It was created by @fskrypt.
18. Ehlers Adaptive CG Indicator . It was created by @LazyBear
19. Insync Index. It was created by @LazyBear
This script works by listening to the indicators and oscillators above. Opens new position after receiving signal verification signal from all
So how does this strategy close your position (optional).
1. You can close the position with the trailing stop option.
2. You can close the position according to the Rsi limits. To give an example. After a long position is opened, you can close the position after the rsi has risen above 70.
3. You can close the position according to the Bollinger Band . After a position is opened, you can close the position after the price moves out of the bollinger Band .
You can also change the values of indicators as desired. If you get better results. I would appreciate it if you could contact me via comment or private message.
I set the commission rate at 0.075 percent. If you want, you can change the settings yourself and make backtest.I changed the default settings for some indicators.
Directional Movement IndexThis is a standard ADX DMI indicator with Background colour and the option to draw the Background colour of the next higher timeframe.
