OPEN-SOURCE SCRIPT
ADX and DI advanced
This is a special ADX and DI which includes the following additional functions:
cr1- allows you to set alerts based on if DI+ and DI- crossover each other leading to a new trend
cr2- shows a constant background highlight of a trend.
ADX threshold- you can set a threshold value so that any readings below that are ignored and the indicator paints a blank black area instead.
cr3 and cr4 are experimental- would not reccommend using yet (they were part of a test I did)
For a detailed video on how I use this indicator please go here
https://youtu.be/Mwc_poTs-fA
The article version was published here originally
http://bitcointradingtoday.com/2019/04/26/trading-view-tutorial-using-adx-di-identify-peaks-reversals/
cr1- allows you to set alerts based on if DI+ and DI- crossover each other leading to a new trend
cr2- shows a constant background highlight of a trend.
ADX threshold- you can set a threshold value so that any readings below that are ignored and the indicator paints a blank black area instead.
cr3 and cr4 are experimental- would not reccommend using yet (they were part of a test I did)
For a detailed video on how I use this indicator please go here
https://youtu.be/Mwc_poTs-fA
The article version was published here originally
http://bitcointradingtoday.com/2019/04/26/trading-view-tutorial-using-adx-di-identify-peaks-reversals/
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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