OPEN-SOURCE SCRIPT
Dynamic Color-changing ADX
Description:
This Advanced Directional Index (ADX) indicator helps traders easily identify trend strength with a dynamic color-changing ADX line and a visual threshold at 20.
Features:
✅ Color-Changing ADX Line
🟢 Green when ADX is above 20 → Indicates a strong trend.
🔴 Red when ADX is below 20 → Indicates a weak or choppy market.
✅ Threshold Line at 20
Helps traders quickly determine whether a market is trending or ranging.
Dotted gray line at 20 serves as a key reference level.
✅ Optimized for Clarity & Efficiency
Uses the traditional 14-period ADX with Directional Movement Index (DMI) smoothing.
Simple and clean visualization for traders of all experience levels.
💡 How to Use:
Strong Trend: Look for ADX above 20 (green line) to confirm a trending market.
Weak Trend/Ranging: ADX below 20 (red line) signals a weak or sideways market.
Combine with MACD, RSI, or Moving Averages for confluence in trade setups.
🔔 Perfect for traders looking to:
✔️ Avoid choppy, low-momentum markets.
✔️ Confirm trend strength before entering trades.
✔️ Improve decision-making with a visualized ADX signal.
If you find this script useful, give it a like 👍 & follow for more powerful indicators! 🚀📈
#Trading #ADX #TrendStrength #TradingView #TechnicalAnalysis
This Advanced Directional Index (ADX) indicator helps traders easily identify trend strength with a dynamic color-changing ADX line and a visual threshold at 20.
Features:
✅ Color-Changing ADX Line
🟢 Green when ADX is above 20 → Indicates a strong trend.
🔴 Red when ADX is below 20 → Indicates a weak or choppy market.
✅ Threshold Line at 20
Helps traders quickly determine whether a market is trending or ranging.
Dotted gray line at 20 serves as a key reference level.
✅ Optimized for Clarity & Efficiency
Uses the traditional 14-period ADX with Directional Movement Index (DMI) smoothing.
Simple and clean visualization for traders of all experience levels.
💡 How to Use:
Strong Trend: Look for ADX above 20 (green line) to confirm a trending market.
Weak Trend/Ranging: ADX below 20 (red line) signals a weak or sideways market.
Combine with MACD, RSI, or Moving Averages for confluence in trade setups.
🔔 Perfect for traders looking to:
✔️ Avoid choppy, low-momentum markets.
✔️ Confirm trend strength before entering trades.
✔️ Improve decision-making with a visualized ADX signal.
If you find this script useful, give it a like 👍 & follow for more powerful indicators! 🚀📈
#Trading #ADX #TrendStrength #TradingView #TechnicalAnalysis
開源腳本
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 publications is governed by House rules. 您可以收藏它以在圖表上使用。
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