Hashem DMI/ADX — Indicator by rhawshemi

averagedirectionalindex directionalmovement trendanalysis ami adx dmiadx trend hashem strength

This indicator will time Breakouts.

DMI+ (DMI Plus) = Blue = Buying Pressure.
DMI- (DMI Minus) = Pink = Selling Pressure.
ADX = Overall strength of a Trend. White = Trend is strong and gaining momentum, Gray = Trend is Weakening.

Can apply same logic for Divergences on DMI+ and DMI- lines.

Release Notes:

Added shapes when DMI+ and DMI- crosses.

DMI+ cross Up to the DMI- => UpShape in Aqua
DMI- cross Up to the DMI+ => DownShape in Purple

Release Notes:

Code tweaks.
More Shapes.
Styling Update.

Release Notes:

Code Tweaks. Styling Update.

Release Notes:

Code Update.

USE WITH PURE BLACK BACKGROUND COLOR

Release Notes:

Updated to v5 Pinescript.

Without Risk and Position Management, You WILL Lose Money.

Protected script

This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.

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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