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-holy-grail-trading-setup/
http://www.babypips.com/school/elementary/common-chart-indicators/average-directional-index.html

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.
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Thanks for ADX script .
All the best.
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dravya AMBRISH
@AMBRISH, You're welcome. Wish you the same.
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