OPEN-SOURCE SCRIPT
ADX by langshen
Explanation of the Code in TradingView
This Pine Script™ code is designed to create a custom indicator called "ADX with Custom Line by langshen". It combines the Average Directional Index (ADX) with additional features like a custom horizontal line, background highlighting, and alert conditions. Below is a detailed explanation of the code:
Indicator Overview
Name: ADX with Custom Line by langshen
Short Title: ADX+Line
Overlay: No (displayed in a separate pane below the chart)
Key Features
ADX Calculation:
The ADX, +DI, and -DI are calculated using the ta.dmi function.
Users can adjust the ADX Length and ADX Smoothing parameters.
Custom Horizontal Line:
A horizontal line is drawn at a user-defined value (default: 30).
Users can customize the line's color, width, and style (solid, dotted, or dashed).
Background Highlighting:
The background is highlighted with a purple color when the ADX value is above the custom horizontal line.
The transparency of the background highlight can be adjusted.
Alert Conditions:
Alerts are triggered when the ADX crosses above or crosses below the custom horizontal line.
This Pine Script™ code is designed to create a custom indicator called "ADX with Custom Line by langshen". It combines the Average Directional Index (ADX) with additional features like a custom horizontal line, background highlighting, and alert conditions. Below is a detailed explanation of the code:
Indicator Overview
Name: ADX with Custom Line by langshen
Short Title: ADX+Line
Overlay: No (displayed in a separate pane below the chart)
Key Features
ADX Calculation:
The ADX, +DI, and -DI are calculated using the ta.dmi function.
Users can adjust the ADX Length and ADX Smoothing parameters.
Custom Horizontal Line:
A horizontal line is drawn at a user-defined value (default: 30).
Users can customize the line's color, width, and style (solid, dotted, or dashed).
Background Highlighting:
The background is highlighted with a purple color when the ADX value is above the custom horizontal line.
The transparency of the background highlight can be adjusted.
Alert Conditions:
Alerts are triggered when the ADX crosses above or crosses below the custom horizontal line.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.