I developed this indicator as a "regime detection" for my algo trading bot. It uses the ADX +/- values with a few twists.
- If ADX DI+ is over 30 and DI- is below 20 and falling (inverse for shorts) - Price action rising/falling thru various VWAP standard deviations indicates a strong trend break - Some other custom juju (open source so have fun).
I use this primarily to monitor the SPY index as a backdrop for my long and short trades. If the colored line below price bars is red or green, a strong trend is present and there is a decent trade environment.
I can only see black dots. Thank you sir