OPEN-SOURCE SCRIPT
ADX-DI trend indication - JD
This indicator is based on the formulas in the original "ADX and DI" script of Masa Nakamuro
The indicator gives a multiplication of ADX and the DI+ and DI- values, color coded for bullish or bearish momentum.
The indicator was optimised for use with HA-candles, but works with regular candles as well and shows general market direction en divergence in a simpler visual way than the normal ADX-DI lines.
A threshold mask and the actual DI-lines kan be shown or omitted as preferred
JD.
The indicator gives a multiplication of ADX and the DI+ and DI- values, color coded for bullish or bearish momentum.
The indicator was optimised for use with HA-candles, but works with regular candles as well and shows general market direction en divergence in a simpler visual way than the normal ADX-DI lines.
A threshold mask and the actual DI-lines kan be shown or omitted as preferred
JD.
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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