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jTrader-00

DI+/DI- Volatility Index

jTrader-00  
Trend Analysis Volatility
40
0
trendanalysis volatility
This is a indicator based on the DI+ and DI- Indicators, that are usually used to measure the strength of a trend.
It works by taking the difference between the DI lines.
If the DI+ is higher than the DI-, the indicator will be green and it's value will be the difference between them; if the DI- is higher than the DI-, the indicator will be red and the value will be the difference between them.

The lines are EMA's of the values themselves.

For strategies, it works well as overbought and oversold levels, but i'll let you find how to do that :)
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.

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