DMI With Crosses (MyNewTrade) — Indicator by MyNewTrading

stochastic trendanalysis volumestudies movingaverage dmi cross adx directional movement

Directional Movement Indicator:
+DI and -DI
I changed the color of the bar bars according to the crossed of +DI and -DI . It helps us to have an idea of whether the trend is continuing or not.

+DI crossover to -DI barcolor is Aqua, if not bar color is Red.

It also helps us to find the lowest and highest points of the graph according to the positions of Adx +DI and -DI .
It gives warnings at the lowest and highest points, which helps us to detect the direction of the trend.

Release Notes:

I edited the formula that calculates the highest and lowest points. and made it understandable.

Release Notes:

I added Alert settings.

Release Notes:

I solved some Alert problems.

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.

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