INVITE-ONLY SCRIPT
Enhanced DMI with H-Lines
Enhanced DMI Indicator with Automatic Help-Lines
This is a classic DMI (Directional Movement Index) indicator with a small but useful customization. Typically, when using DMI, you need to manually add reference lines for each asset to assess trend strength. I found this process tedious—so I automated it with this script.
Important Notice
• This indicator is not for sale.
• You are free to use it as-is forever.
• However, you use it at your own risk – trade responsibly.
Understanding the Indicator Lines
• Yellow (ADX) – Measures trend strength.
• Green (+DI) – Represents positive directional movement.
• Red (-DI) – Represents negative directional movement.
Help-Lines for ADX (Trend Strength)
These reference lines help interpret ADX (yellow line) movement more effectively:
Trade Direction Considerations
If the Green (+DI) line is above the Red (-DI) line, consider a long position.
If the Red (-DI) line is above the Green (+DI) line, consider a short position.
Additional Signals for Stronger Confirmation
This customization simplifies DMI analysis, making it easier to identify trend strength and potential trade opportunities without manually adjusting reference lines. Enjoy and trade wisely!
This is a classic DMI (Directional Movement Index) indicator with a small but useful customization. Typically, when using DMI, you need to manually add reference lines for each asset to assess trend strength. I found this process tedious—so I automated it with this script.
Important Notice
• This indicator is not for sale.
• You are free to use it as-is forever.
• However, you use it at your own risk – trade responsibly.
Understanding the Indicator Lines
• Yellow (ADX) – Measures trend strength.
• Green (+DI) – Represents positive directional movement.
• Red (-DI) – Represents negative directional movement.
Help-Lines for ADX (Trend Strength)
These reference lines help interpret ADX (yellow line) movement more effectively:
- Blue (20): If the Yellow (ADX) line is below this level, there is no significant trend, and the indicator does not generate signals.
- Orange dashed (25): If the Yellow (ADX) line crosses this level from below, it suggests a potential trade opportunity.
- Red dashed (40): If the Yellow (ADX) line crosses this level, consider closing the trade.
- Red solid (60): If the Yellow (ADX) line crosses this level, it is strongly recommended to close the trade.
Trade Direction Considerations
If the Green (+DI) line is above the Red (-DI) line, consider a long position.
If the Red (-DI) line is above the Green (+DI) line, consider a short position.
Additional Signals for Stronger Confirmation
- For a long position: If the green (+DI) line crosses above the orange dashed help-line (25) or a higher level and crosses above the yellow (ADX) line, this is an additional (stronger) signal to enter a long position.
- For a short position: If the red (-DI) line crosses above the orange dashed help-line (25) or a higher level and crosses above the yellow (ADX) line, this is an additional (stronger) signal to enter a short position.
This customization simplifies DMI analysis, making it easier to identify trend strength and potential trade opportunities without manually adjusting reference lines. Enjoy and trade wisely!
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。