OPEN-SOURCE SCRIPT
DMI Candles Colored
The DMI Candles Colored indicator colors the candles based on directional momentum derived from the DMI.
- Green : Bullish momentum.
- Red : Bearish momentum.
- Purple : Neutral phase, indicating a slowdown in volatility, which helps identify accumulation and distribution phases.
- Green : Bullish momentum.
- Red : Bearish momentum.
- Purple : Neutral phase, indicating a slowdown in volatility, which helps identify accumulation and distribution phases.
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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