OPEN-SOURCE SCRIPT
ADX Trend + RSI V2
Indicator combining in one chart : ADX + RSI.
V2 : NOW, BULL TREND = SLOPE(ADX)>0 AND SLOPE(long EMA)>0
Changing settings :
Slow ADX Smoothing : periods for the EMA to smooth the ADX
Zero? : threshold (dotted line) at which the label will show "trend" (if the ADX is increasing)
Length RSI : Periods for calculating RSI
Settings for MACD Length : don't touch, except if you need to.
Coded with my buttocks, thanks for your indulgence.
Credits at the beginning of the code (thanks to newmen41)
V2 : NOW, BULL TREND = SLOPE(ADX)>0 AND SLOPE(long EMA)>0
Changing settings :
Slow ADX Smoothing : periods for the EMA to smooth the ADX
Zero? : threshold (dotted line) at which the label will show "trend" (if the ADX is increasing)
Length RSI : Periods for calculating RSI
Settings for MACD Length : don't touch, except if you need to.
Coded with my buttocks, thanks for your indulgence.
Credits at the beginning of the code (thanks to newmen41)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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