OPEN-SOURCE SCRIPT
RSI Custom ADX VWAP Swing Signals
RSI Custom ADX VWAP Swing Signals
This Pine Script indicator is designed for the NASDAQ 1-minute timeframe (or any timeframe you use) and combines several technical analysis tools:
RSI (Relative Strength Index): Measures momentum, indicating overbought and oversold conditions.
Custom ADX (Average Directional Index): Quantifies the strength of a trend, regardless of direction.
VWAP (Volume-Weighted Average Price): Represents the average price weighted by volume, indicating central price tendency.
Swing High/Low Detection: Identifies recent high and low points to detect breakout signals.
How it works:
RSI Calculation:
Uses a length of 14 (or your input) to assess whether market momentum is overbought (>60) or oversold (<30).
Custom ADX Calculation:
Computes plusDM and minusDM based on recent high/low price changes.
Smooths these using Wilder’s method (ta.rma) to obtain directional movement.
Derives the ADX value (sig), representing the trend strength.
VWAP Calculation:
Uses the typical price (hlc3) to compute the VWAP, a key level indicating average trading price weighted by
This Pine Script indicator is designed for the NASDAQ 1-minute timeframe (or any timeframe you use) and combines several technical analysis tools:
RSI (Relative Strength Index): Measures momentum, indicating overbought and oversold conditions.
Custom ADX (Average Directional Index): Quantifies the strength of a trend, regardless of direction.
VWAP (Volume-Weighted Average Price): Represents the average price weighted by volume, indicating central price tendency.
Swing High/Low Detection: Identifies recent high and low points to detect breakout signals.
How it works:
RSI Calculation:
Uses a length of 14 (or your input) to assess whether market momentum is overbought (>60) or oversold (<30).
Custom ADX Calculation:
Computes plusDM and minusDM based on recent high/low price changes.
Smooths these using Wilder’s method (ta.rma) to obtain directional movement.
Derives the ADX value (sig), representing the trend strength.
VWAP Calculation:
Uses the typical price (hlc3) to compute the VWAP, a key level indicating average trading price weighted by
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.