CM_ADX_V1 — Indicator by ChrisMoody

pinescript adx chrismoody averagedirectionalindex

ADX System Overview

So I Came Across Another Trading System for Only $997. However, if you purchased in the next 24hours the whole system could be Yours For Only $497.

So I decided to Code it. This is only Version 1, and I discuss in the Video What I’ve found so for, some plans for Version 2 of the indicator, and I ask for your feedback on anything you find.

Indicators used in System:
CM_DI_Plus_Minus_V1 (Indicator On Bottom).
CM_ADX_V1 (Indicator On 2nd Pane).
CM_Gann_Swing_Hi_Lo (Indicator on Price Pane). This Indicator was published before…Link Below.

CM_DI_Plus_Minus_V1

In Video I go over settings and how to customize charts.

Link To Video:

Link To Downloadable PDF Shown in Video:

Coming Soon: www.ChrisMoodyTrading.com

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.

Want to use this script on a chart?

//Created By Chris Moody on 11-18-2014
//Designed to go with ADX Trading System.
//Video Overview Explaining Setup
study(title="CM_ADX_V1", shorttitle="CM_ADX_V1")
len = input(14, minval=1, title="DI Length")
lensig = input(14, title="ADX Smoothing", minval=1, maxval=50)


up = change(high)
down = -change(low)
trur = rma(tr, len)

plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / trur)
minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / trur)

sum = plus + minus 
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), lensig)

col = adx <= 10 ? gray : adx > 10 and adx <= 20 ? aqua : adx > 20 and adx <= 40 ? green : adx > 40 ? orange : yellow

//plot(plus, color=lime, title="+DI", style=line, linewidth=3)
//plot(minus, color=red, title="-DI", style=line, linewidth=3)
plot(adx, color=col, title="ADX", style=columns)
plot(0, title="0 Line", style=line, linewidth=3, color=gray)
plot(0, title="0 Line", style=circles, linewidth=3, color=gray)
plot(10, title="10 Line", style=line, linewidth=3, color=aqua)
plot(10, title="10 Line", style=circles, linewidth=3, color=aqua)
plot(20, title="20 Line", style=line, linewidth=3, color=green)
plot(20, title="20 Line", style=circles, linewidth=3, color=green)
plot(40, title="10 Line", style=line, linewidth=3, color=orange)
plot(40, title="10 Line", style=circles, linewidth=3, color=orange)

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