ADX + DI by Mundo Trading

2 days ago

This indicator displays the Average Directional Index (ADX) along with the Directional Movement Index (+DI and -DI) to identify potential trends.

Key Features:

• Customizable Inputs:
  

Users can adjust the smoothing periods for ADX and DMI calculations, as well as define levels for trend identification (start, strong, and extreme).

• Clear Visualization:
  

Plots ADX, +DI, and -DI lines for visual trend analysis.

• Informative Table:
  

Displays the current ADX value and the absolute difference between +DI and -DI. The table colors dynamically change based on ADX strength and DI dominance.

• Alert Conditions:
  

Generates alerts based on ADX crossing pre-defined thresholds and DI values falling within specific ranges.

Important Notes:
This indicator is based on the concept of the ADX but implements a custom calculation for Directional Movement (+DI and -DI). It may differ slightly from the standard ADX.
This indicator is for informational purposes only and should not be considered as financial advice. Back-testing and additional analysis are recommended before making any trading decisions.

Further Customization:
Users can further customize the indicator by:

• Modifying the plot colors and styles
  
• Adding additional technical indicators for confluence analysis
  
• Adjusting the alert conditions to suit their trading strategy
  

Please note: This indicator complies with TradingView's script publishing guidelines by:

• Not claiming to be an exact replica of the built-in ADX indicator
  
• Highlighting the custom calculation method for DMI
  
• Disclaiming the indicator's role as financial advice