Smoothed Directional Movement Index — Indicator by FmUbRJWXPK

This indicator is a variation of the default DMI indicator, the main difference being that the signals are smoothed by SMAs.

It also has additional bullish (green) and bearish (red) background coloring which would be noisy on a standard DMI indicator.
If both lines converge it is bullish, otherwise bearish.

Increase / decrease the threshold should you want more conservative / optimistic background coloring.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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