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[PX] ADX Boxes

Hello guys,

today I would like to share an indicator that I had in my mind for quite some time. I call it ADX Boxes.

How does it work?

What the indicator does is very simple. Whenever the ADX falls below a certain threshold (which can be managed in the user input settings) a box will appear. The box will continue to grow as long as the ADX stays below the threshold. Once the ADX goes back above the threshold, the box will stop growing and will set its right border.

There are two modes, which can be used to determine the upper and lower border of the box. The first one is called "Extremes", which plots the borders the highest high and lowest low for the range below the threshold. The second one is called "Avg. High/Low", which plots the borders at the average high and average low within the range.
Furthermore, the indicator contains an option to show the average value of the detected range below the ADX threshold.

Just like all my other indicator scripts, this one comes with different styling options for boxes in progress, settled boxes and the average value.

Hopefully, some of you find it useful.

Make sure you leave a follow and a like :)

Happy trading!!
Notas de prensa: Added the option "Show Box?" to turn on and off the box visualization. Turning the box off enables the indicator to plot more mid-lines in history, which turned out to be very useful when projected into the future.
Notas de prensa: Added an option to extend the mid line.
Notas de prensa: Fixed "Pine cannot determine the referencing length of a series."-error and updated header.
Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?
http://www.pascal-simon.de - Custom indicator development