OPEN-SOURCE SCRIPT
ADX Oscillator @shrilss
This Indicator calculates the Average Directional Index (ADX), a popular indicator used to quantify the strength of a trend. Additionally, it computes the Positive Directional Index (+DI) and Negative Directional Index (-DI), which measure the strength of upward and downward price movements respectively.
What sets this script apart is its enhanced ADX calculations. It incorporates Moving Averages (MAs) of the +DI and -DI to offer a smoother representation of trend direction. By averaging these directional indices over a specified period, it aims to filter out noise and provide clearer signals of trend strength.
Traders have the flexibility to visualize the traditional ADX alongside the enhanced ADX oscillator. The script also highlights potential buying and selling opportunities based on crossover events between the directional indices and the ADX, helping traders identify optimal entry and exit points.
With customizable parameters such as the length of the Directional Movement (DM), ADX, and MA periods, this script empowers traders to adapt the indicator to different market conditions and timeframes.
What sets this script apart is its enhanced ADX calculations. It incorporates Moving Averages (MAs) of the +DI and -DI to offer a smoother representation of trend direction. By averaging these directional indices over a specified period, it aims to filter out noise and provide clearer signals of trend strength.
Traders have the flexibility to visualize the traditional ADX alongside the enhanced ADX oscillator. The script also highlights potential buying and selling opportunities based on crossover events between the directional indices and the ADX, helping traders identify optimal entry and exit points.
With customizable parameters such as the length of the Directional Movement (DM), ADX, and MA periods, this script empowers traders to adapt the indicator to different market conditions and timeframes.
Script de código abierto
Siguiendo el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan conocerlo y verificarlo. ¡Un brindis por el autor! Puede usarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en publicaciones se rige por Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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