OPEN-SOURCE SCRIPT

ADX + DI by Mundo Trading

This indicator displays the Average Directional Index (ADX) along with the Directional Movement Index (+DI and -DI) to identify potential trends.

Key Features:

  • Customizable Inputs:
Users can adjust the smoothing periods for ADX and DMI calculations, as well as define levels for trend identification (start, strong, and extreme).
  • Clear Visualization:
Plots ADX, +DI, and -DI lines for visual trend analysis.
  • Informative Table:
Displays the current ADX value and the absolute difference between +DI and -DI. The table colors dynamically change based on ADX strength and DI dominance.
  • Alert Conditions:
Generates alerts based on ADX crossing pre-defined thresholds and DI values falling within specific ranges.

Important Notes:
This indicator is based on the concept of the ADX but implements a custom calculation for Directional Movement (+DI and -DI). It may differ slightly from the standard ADX.
This indicator is for informational purposes only and should not be considered as financial advice. Back-testing and additional analysis are recommended before making any trading decisions.

Further Customization:
Users can further customize the indicator by:
  • Modifying the plot colors and styles
  • Adding additional technical indicators for confluence analysis
  • Adjusting the alert conditions to suit their trading strategy


Please note: This indicator complies with TradingView's script publishing guidelines by:
  • Not claiming to be an exact replica of the built-in ADX indicator
  • Highlighting the custom calculation method for DMI
  • Disclaiming the indicator's role as financial advice
Average Directional Index (ADX)Directional Movement Index (DMI)wilder

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

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