dravya

ADX Color Easy [Dravya]

Script #1

So,
here is my first script.

This is the normal 14 period ADX ,
but with a color twist, to make it extremely easy on eyes.
and then,
easily spot the strength.

ADX , as you know, shows the strength of the trend.
As short term traders, we need price movement and a strong trend.

How to use this script ?

1. We don't trade when ADX is in the red zone (0-20)
2. We get ready for trading when it enters the blue zone (20-30)
3. We trade when the ADX enters the green zone (>30)

Simple, right !

Now, in the green zone,
in which direction you should trade?

Here are a few links, to help you use ADX as a strategy ,

https://www.tradingsetupsreview.com/the-...
http://www.babypips.com/school/elementar...

Other than this, you can combine this with your own strategies.


Personally, I like to use it on stocks on 1H timeframe.

Thanks.
Would love to hear from you.

Please like it to support the project,
and help spread it.
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.

Want to use this script on a chart?

Comments

Thanks for ADX script .
All the best.
+1 Reply
dravya AMBRISH
@AMBRISH, You're welcome. Wish you the same.
+1 Reply
One of my favorite money makers for some time - thank you!!!
Reply