of the Average Index ( ). It's calculated by taking
the average of the current and the from one time period before
(time periods can vary, but the most typical period used is 14 days).
Like the , the ranges from values of 0 to 100 and reflects strengthening
and weakening trends. However, because it represents an average of , values
don't fluctuate as dramatically and some analysts believe the indicator helps
better display trends in volatile markets.
- This script to change bars colors.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG
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.