Empiece

Índice de movimiento direccional (DMI)

Profit Accumulator Momentum Trend IndicatorMomentum Trend Indicator This is a support indicator to the Main Indicator which has also been published. This indicator uses a modified stochastic trendline and a smoothed momentum line (which combines stochastic, RSI and moving average). This is a centred oscillator from -100 to 100 which makes it easier to track. The stochastic line is the quicker moving line which potentially acts as the first trigger. If the momentum line then begins to follow, then it is an indication that a trade should be made. Long Trades: The Stochastic line is above 25 and the momentum line is greater than -25. Short Trade: The Stochastic line is below -25 and the momentum line is less than 25. Whilst an actual alert function is not set for the indicator, the TradingView alert function can be used to trigger a message when either the stochastic line or momentum line crosses -25/25 (the key levels). I've been using this successfully on the one hour FX charts, but seems to work equally as well on higher or lower time frames (not less than 15min). The other indicators which are part of the suite are shown on the website which is highlighted in my signature at the bottom of the page. Purchase of the main indicator gives access to the full suite of eight indicators. I use the other indicators to confirm the direction of the trade and to determine if I want to trade or not. I use it along with the 2min, 15min and 4hr timeframes to identify the best entry window and how long I'm likely to be in the trade. Support can be provided via private message or in the comments below. The links are provided below for access to the indicator.
Indicador Pine Script®
por Mikeo82
Bull vs Bear Power by DGTElder-Ray Bear and Bull Power Dr. Alexander Elder cleverly named his first indicator Elder-Ray because of its function, which is designed to see through the market like an X-ray machine. Developed in 1989, the Elder-Ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing under the surface of the markets for data that may not immediately be ascertainable from a superficial glance at prices The Elder-Ray indicator is comprised by three elements – Bear Power, Bull Power and a 13-period Exponential Moving Average. As the high price of any candle shows the maximum power of buyers and the low price of any candle shows the maximum power of sellers, Elder uses the 13-period EMA in order to present the average consensus of price value. Bull power shows whether buyers are capable of pushing prices above the average consensus of value. Bear power shows whether sellers are capable of pushing prices below the average consensus of value. Mathematically, Bull power is the result of subtracting the 13-period EMA from the high price of the day, and Bear power is the result of subtracting the 13-period EMA from the low price of the day. What does this study implements Attempts to customize interpretation of Alexander Elder's Elder-Ray Indicator (Bull and Bear Power) by • adding additional insights to support/confirm Elder’s strategy with different indicators related with the Elder’s concept • providing different options of visualization of the indicator • providing smoothing capability Other Indicators to support/confirm Elder-Ray Indicator: Colored Directional Movement Index (CDMI) , a custom interpretation of J. Welles Wilder’s Directional Movement Index (DMI) , where : DMI is a collection of three separate indicators ( ADX , +DI , -DI ) combined into one and measures the trend’s strength as well as its direction CDMI is a custom interpretation of DMI which presents ( ADX , +DI , -DI ) with a color scale - representing the trend’s strength, color density - representing momentum/slope of the trend’s strength, and triangle up/down shapes - representing the trend’s direction. CDMI provides all the information in a single line with colored triangle shapes plotted on the top. DMI can provide quality information and even trading signals but it is not an easy indicator to master, whereus CDMI simplifies its usage. Alexander Elder considers the slope of the EMA, which gives insight into the recent trend whether is up or down, and CDMI adds additional insight of verifying/confirming the trend as well as its strength Note : educational content of how to read CDMI can be found in ideas section named as “Colored Directional Movement Index” different usages of CDMI can be observed with studies “Candlestick Patterns in Context by DGT", “Ichimoku Colored SuperTrend + Colored DMI by DGT”, “Colored Directional Movement and Bollinger Band's Cloud by DGT”, and “Technical Analyst by DGT” Price Convergence/Divergence , if we pay attention to mathematical formulations of bull power, bear power and price convergence/divergence (also can be expressed as price distance to its ma) we would clearly observe that price convergence/divergence is in fact the result of how the market performed based on the fact that we assume 13-period EMA is consensus of price value. Then, we may assume that the price convergence/divergence crosses of bull power, or bear power, or sum of bull and bear power could be considered as potential trading signals Additionally, price convergence/divergence visualizes the belief that prices high above the moving average or low below it are likely to be remedied in the future by a reverse price movement Alternatively, Least Squares Moving Average of Price Convergence/Divergence (also known as Linear Regression Curve) can be plotted instead of Price Convergence/Divergence which can be considered as a smoothed version of Price Convergence/Divergence Note : different usages of Price Convergence/Divergence can be observed with studies “Trading Psychology - Fear & Greed Index by DGT”, “Price Distance to its MA by DGT”, “P-MACD by DGT”, where “Price Distance to its MA by DGT” can also be considered as educational content which includes an article of a research carried on the topic Options of Visualization Bull and Bear Power plotted as two separate • histograms • lines • bands Sum of Bull and Bear Power plotted as single • histogram • line • band Others Price Convergence/Divergence displayed as Line CDMI is displayed as single colored line of triangle shapes, where triangle shapes displays direction of the trend (triangle up represents bull and triangle down represent bear), colors of CDMI displays the strength of the trend (green – strong bullish, red – strong bearish, gray – no trend, yellow – week trend) In general with this study, color densities also have a meaning and aims to displays if the value of the indicator is falling or growing, darker colors displays more intense move comparing to light one Note : band's upper and lower levels are calculated by using standard deviation build-in function with multiply factor of 0.236 Fibonacci’s ratio (just a number for our case, no any meaning) Smoothing No smoothing is applied by default but the capability is added in case Price Convergence/Divergence Line is assumed to be used as a signal line it will be worth smoothing the bear, bull or sum of bear and bull power indicators Interpreting Elder-Ray Indicator, according to Dr. Alexander Elder Bull Power should remain positive in normal circumstances, while Bear Power should remain negative in normal circumstances. In case the Bull Power indicator enters into negative territory, this implies that sellers have overcome buyers and control the market. In case the Bear Power indicator enters into positive territory, this indicates that buyers have overcome sellers and control the market. A trader should not go long at times when the Bear Power indicator is positive and he/she should not go short at times when the Bull Power indicator is negative. 13-period EMAs slope can be used in order to identify the direction of the major trend. According to Elder, the most reliable buy signals are generated, when there is a bullish divergence between the Bear Power indicator and the price (Bear Power forms higher lows, while the market forms lower lows). The most reliable sell signals are generated, when there is a bearish divergence between the Bull Power indicator and the price (Bull Power forms lower highs, while the market forms higher highs). There are four basic conditions, required to go long or short, with the use of the Elder-Ray method alone. In order to go long: 1. The market is in a bull trend, as indicated by the 13-period EMA 2. Bear Power is in negative territory, but increasing 3. The most recent Bull Power top is higher than its prior top 4. Bear Power is going up from a bullish divergence The last two conditions are optional that fine-tune the buying decision In order to go short: 1. The market is in a bear trend, as indicated by the 13-period EMA 2. Bull Power is in positive territory, but falling 3. The most recent Bear Power bottom is lower than its prior bottom 4. Bull Power is falling from a bearish divergence The last two conditions are optional, they provide a stronger signal for shorting but they are not absolutely essential If a trader is willing to add to his/her position, he/she needs to: 1. add to his/her long position, when the Bear Power falls below zero and then climbs back into positive territory 2. add to his/her short position, when the Bull Power increases above zero and then drops back into negative territory. note : terminology of the definitions used herein are as per TV dictionary Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely Disclaimer : The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Indicador Pine Script®
por dgtrd
56
Up/Down Trend MarkerA simple indicator of trend by using 3 EMAs of multiplies of 2, 5 and 10, filtered by standard positive/negative directional movements (DM) which are the base of Average Directional Index (ADX). The "Trend Strength" option is included to set the EMA multipliers and also the variation between DM+ and DM- which interpret the trend as a weak or a strong one. Note that the markers only point to almost the beginning of the trends and just change the direction when the opposite trend is detected. Feel free to send me your opinions.
Indicador Pine Script®
por informanerd
15
[WJ] - ADX v2 [DMI, Alerts, Histogram, Customizable]A handy all-in-one package for DMI and ADX Color-coordinated line for DMI with an EMA and histogram to gauge momentum, mark potential reversals, and quickly gather all the information you need to make your decisions. Quick take-aways: - Color of the ADX line indicates the current trend - An ADX below the EMA indicates a potentially falling/reversing trend - Customizable line w/ alerts for ADX crossovers - Histogram to help catch potential reversals faster, and to gauge the momentum Please let me know what you think, and in any features you think would increase the effectiveness of this amazing tool.
Indicador Pine Script®
por woodyjohnson
5
HTF Candlestick Patterns [TradingView] vX by DGTCandlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument. They have their origins in the centuries-old Japanese rice trade and have made their way into modern day price charting. It’s important to note that candlestick patterns aren’t necessarily a buy or sell signal by themselves. They are instead a way to look at market structure and a potential indication of an upcoming opportunity. It is always useful to look at candlestick patterns in context like any other market analysis tool and candlestick patterns are most useful when used in combination with other techniques. There are countless candlestick patterns that traders can use to identify areas of interest on a chart, where some candlestick patterns may provide insights into the balance between buyers and sellers, others may indicate a reversal, continuation, or indecision. Reversal patterns are quite useful when used in context. Reversal patterns should form at the bottom of a downtrend or at the top of an uptrend. Otherwise, they are not a reversal patterns, but continuation patterns. Most reversal patterns require confirmation such as price move in the direction of reversal accompanied by appropriate trading volume. The reversal patterns can further be confirmed through other means of traditional technical analysis—like trend lines, momentum, oscillators, or volume indicators—to reaffirm buying or selling pressure. The patterns themselves do not guarantee that the trend will reverse. Investors should always confirm reversal by the subsequent price action before initiating a trade. This study implements some of the most commonly used candlestick patterns in a context with directional movement indicator. On request users can adjust the strong trend threshold from dialog box, eighter can disabled correlation with directional movement indicator. To add additional sight to analysis the simple moving averages of 20, 50, 100 and 200 periods are added (configurable) You may add additional indicators of your choice. Colored DMI, BB Cloud or Price Distance to its MAs may help Enjoy it! Disclaimer: The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd tradingview user liable for any possible claim for damages arising from any decision you make based on use of the script
Indicador Pine Script®
por dgtrd
18
Directional Movement Oscillator (DMI)The DMI Oscillator is a technical indicator which uses values of DMI in order to predict miscellaneous sides of market behavior. Two components of DMI are used in calculation: DI+ and DI-; the DMI oscillator calculates the difference between these components and represents it as both a line and a histogram. According to the rules described by Barbara Star in her article "The DMI Stochastic", the following market conditions can be predicted: When the oscillator is positive and decreasing, a consolidation or pullback might take place. When price is in uptrend and the oscillator is positive but makes lower highs, a bearish divergence might be identified. Conversely, when price is in downtrend and the oscillator is negative but keeps moving up, a bullish divergence might take place. Trend continuation might be identified when the oscillator moves to the zero line and then rebounds from it. In quiet markets, oscillator values fluctuating near the zero line (approx. -10 to +10 range) might signify sideways or rangebound price action.
Indicador Pine Script®
por prince_ond
1
LIZ ADX+DMIThe thick lines represent ADX . When the volatility increases, it faces up and the color changes from gray to green. When the background is gray and starts to turn green from below the horizontal line of reference value of 20, the volatility increases, indicating that the environment is becoming easier to trade. When ADX rises and then peaks out, the line goes down and the previously green line changes to gray. This means that the trend that was going on before is now over.People who hold positions use them to sign off their hands. Also, those who want to see the trend change and build a new position with a backstop can use it to sign their entries. When the background is gray (due to the deterioration of ADX ), it indicates that the volatility is low, there is no value width, and the direction is unclear, so it's not a good time to trade. The two thin lines, red and blue, are DMI.A red line at the top and a blue line at the bottom indicates that the buying power is dominant, and the gap between the two lines is painted red. On the other hand, if the blue line is up and the red line is down, it shows that the selling power is superior and it is painted blue. When the two ADX lines intersect, and the color between the lines is changing from red to blue or blue to red, it indicates that the buyer's advantage has changed. You can look at when the line crosses, and then enter in the new direction of dominance and build a position. You can also determine that your position is in line with the market flow if it is in line with your current predominance. However, in the opposite case, it suggests that the position you have is not in the right direction. When two DMI lines are crossed frequently, it indicates a range or random rate. In such cases, the background is often gray, indicating that it is difficult to make a profit in trade. If you are interested in the invitation-only indicator, please contact us on private chat. 太い線はADXを表してます。 ボラティリティーが上昇すると上を向き、色がグレーから緑に変化します。 背景がグレーの期間で、水平線で示す基準値20より低い位置から上を向き緑に変化し始める時、ボラティリティーが上昇し、トレードしやすい環境になりつつある事を示唆しています。 ADXが上昇し、やがてピークアウトするとラインが下を向き、それまで緑だったラインの色がグレーに変わります。これは、それまで続いていたトレンドが一旦終了した事を意味します。 ポジションを持っていた人は、手仕舞いのサインに使います。 また、トレンドの転換を確認し、逆張りで新規ポジションの構築を狙っている人はエントリーのサインに使えます。 ADXが低下しているせいで,背景がグレーになっている時は,ボラティリティーが低下しており、値幅がなく、方向性がはっきりしないという理由で取引に向いていない時期である事を示します。 赤、青2本の細いラインはDMIです。赤いラインが上、青いラインが下の時は買い勢力が優勢である事を示し、2本の線の間が赤に塗られます。 反対に青いラインが上、赤いラインが下の時は売り勢力が優勢である事を示し、青に塗られます。 2本のADXラインが交差し、線の間に塗られた色が、 赤から青、または青から赤に変化する時、買い方売り方の優劣が入れ替わった事を示唆します。 ラインがクロスするタイミングを見て、新しく優勢になった方向にエントリーし、ポジションを構築できます。 また、自分が既に持っているポジションが、現在優勢である方向と一致している時はマーケットの流れに合っていると判断できます。 しかし反対の時は、あなたが持っているポジションの方向が合っていない事を示唆しています。 2本のDMIラインが頻繁にクロスしている時は、レンジ相場やランダム相場である事を示唆します。 そのような時は背景もグレーになっている時が多く、トレードで利益を出すのが難しい環境である事を表しています。 招待専用インジに興味ある方はプライベートチャットに連絡をください。
Indicador Pine Script®
por kowatasan
2
Lobowass 2 StochasticsThis script uses a DMI, Stochastic, and two stochastic RSI, when they are all overbought or oversold (also applying price action and looking for bounce points) we can obtain a greater probability that the price will go in the direction we expect This script is compact, which can be very useful for many traders Default values DMI: Lenght=10 Stolenght=3 Stochastic: K=14 D=3 Smooth=3 RSI Stochastic: K=3 D=3 Lenght=6 Lenght Stoch=6 RSI Stochastic 2: K=3 D=3 Lenght=14 Lenght Stoch=14 The indicators configured in this way can bring greater efficiency, do not confront only them, also use price action or other confirmat They are arranged in a graph, such that the DMI has the oversold at 10 and the overbought at 90, the stochastic oversold at 120 and overbought at 180, first stochastic RSI at oversold at 220 and overbought at 280, and last stochastic RSI at oversold at 320 and overbought at 380, you can configure them your way taking into account that the DMI range is from 0-100, stochastic 100-200, stochastic RSI 200-300 and stochastic RSI 2 from 300-400
Indicador Pine Script®
por juandiego90123
3
DMA: ADX L30A modified version of the ADX indicator Indicator average directional movement ( ADX ) helps traders determine the strength of the trend, not its actual direction. It can be used to determine whether changes in the market or starts a new trend. It refers to the average directional movement Index (DMI), and, in fact, included DMI ADX line . The oscillator ranges from 0 to 100, where high values noted a strong trend and low readings indicate a weak trend. It is often combined with directional indicators. The indicator was developed by Welles Wilder, who has created several leading trading indicators. Disconnected the lines DI and set the horizontal level 30 ----- Модифицированная версия индикатора ADX . Индикатор среднего направленного движения ( ADX ) помогает трейдерам определить силу тренда, а не его фактическое направление. Его можно использовать, чтобы выяснить, меняется ли рынок, или начинается новый тренд. Он относится к Индексу направленного движения (DMI) и, фактически, в DMI включена линия ADX . Осциллятор колеблется от 0 до 100, где высокие показания отмечают сильный тренд, а низкие показания указывают на слабый тренд. Он часто комбинируется с направленными индикаторами. Индикатор был разработан Уэллсом Уайлдером, который создал несколько ведущих торговых индикаторов. Отключены линии DI и установлен горизонтальный уровень на значении 30
Indicador Pine Script®
por baiturin
3
Easy Directional Movement IndexNothing more than a graphical tweak for the integrated Directional movement index (DMI). The purpose is to make the reading of the DMI easier and more immediate. The area between DI+ and DI- is filled, and the indicator's range in divided into 4 sections, each of them representing a different price tendency: - When ADX line is inside the red colored area (0-25), the market is in a ranging phase. - When inside the aqua colored area (25-50), there is a trend. - When inside the blue colored area (50-75), there is a strong trend - When inside the navy colored area (75-100), there is an extremely strong trend. However keep in mind that these are default levels that may be not always significant. You can change them from the script settings as you prefer, to better tweak your analysis. Please support my work and follow me if you like my scripts. Many more of them are coming in the future. @Bezzus
Indicador Pine Script®
por Bezzus
unRekt - KISS AddieKISS Addie is the ADX and DI+- indicator and is part of the 'keeping it simple' series. ADX is your Average Directional Index and DI is you Directional Movement Indicator. ADX - Will show the strength of the trend regardless of direction. 00 - 10 : No trend 10 - 20 : Transitioning trend 20 - 40 : Trending 40 - 99 : Exhausted (Can also be considered a stronger trend the higher it goes, but look to exit position once it begins to downward slope and pay attention to DI spread) DI - Will show the direction of movement. This indicator includes two views of the DI. the DI+ and DI- crossover and a histogram of the spread between the two. Bullish : Green crosses over red. Bearish : Red crosses over green.
Indicador Pine Script®
por Upland
2
Ichimoku Cloud & ADX & DMI & MACD [tg1]Hi There! Sharing my strategy that is mainly build on Ichimoku Kinko Hyo and its Tenkan and Kijun crosses. In addition, I added a few other indicators to have less false breakout signals. See more details below: Long conditions : 1) Tenkan crosses over Kijun 2) Tenkan & Kijun > Kumo 3) Close > Kumo 4) Chikou > Kumo (-n periods) 5) ADX > Custom value 6) DI+ > DI- 7) MACD > Signal 8) SMA > 200 Short conditions are simply the other way around. This indicator has been mainly tested and tuned for BTCUSDT.
Estrategia Pine Script®
por tg1crypto
Directional Movement Index TrendThis DMI I modified to see the trend more clearly, and the ADX line changes according to the trend force, which is perfectly configurable, the configuration I left my default configuration, in case you want to modify it because you see the trend in different values, feel free, and basically the columns are the average of DI and also indicate the trend more clearly. ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Esse DMI eu modifiquei para ver a tendência com maior clareza, e a linha do ADX ela muda de acordo com a força de tendência, a qual é perfeitamente configurável, a configuração eu deixei a minha configuração padrão, caso você queira modificar porque você vê a tendência em valores diferentes, sinta-se livre, e basicamente as colunas são a média de DI e indicam também com mais clareza a tendência.
Indicador Pine Script®
por Marqx
18
DI+ and ACThis script utilizes the Directional Movement Plus from the Directional Movement Index and Accelerator Oscillator (developed by Bill Williams to be based off of the Awesome Oscillator ) indicator to determine an entry signal. When the DI+ goes to a low value (<= 10), there is a high probability that a downtrend reversal may occur. The Accelerator Oscillator ( AC ) is used to compliment this theory by looking at the strength of the trend. As the AC shows weakening downtrend acceleration, we can confirm a potentional long entry.
Indicador Pine Script®
por schwehrv
1
5 Minute TraderBy request, this is an amalgamation of my most popular indicator features but tailored for lower timeframes. Signals are generated by simple EMA crosses (with adjustable values) in the direction of the current trend and then validated against a scoring system that's comprised of 20 other indicators. When the majority of them agree then the trade can be taken. The tolerance score that permits a trade can be adjusted within the indicator preference panel and the values can be printed above/below the candle to help you tune your entry points. To further reassure you, the smoothed candle direction from the 4 hour chart is printed in the background to validate the trend direction and a floating trade helper panel translates the scores in to practical terms (buy, sell etc) Alerts are built in. Note: This is a premium script. Please DM me for access.
Indicador Pine Script®
por colinmck
141
DMI + ADX + OBVThis trend following indicator is made up of 3 parts. A normalized (OBV) On Balance Volume (the gray line) which ranges between -100 and 100 and has a 55 period SMA overlayed (the orange line) to give an indication of the overall trend as far as volume goes. - If the volume decreases without a drop in price, it might indicate a move down. - If volume increases without a rise rise in the price, it might indicate a move up. The (DMI) Directional Movement Indicator which shows the strength of the bulls versus the bears. - The red line measures how strongly price moves downwards. - The green line measures how strongly price moves upwards. One way to trade this is on crossovers e.g.when the green line crosses the red; although it's best to combine this with another indicator or pattern for confirmation. Another useful feature of the DMI is the ability to see strength of buyers and sellers pressure at the same time, acting as a confirmation before entering a trade. The third way to use the DMI is when price makes a new high but the green line does not. (Or the price makes a new low and the red line doesn't) This is known as divergence and should act as a warning to tighten your stops or take profits because it signals a possible change of direction. The last part of the indicator is the (ADX) Average Directional Index This is the blue line and shows the strength of the trend regardless of direction. This can act as a confirmation for the DMI or other indicators in your trading system. When the blue line is: - above the green shaded area there is an extreme trend. - in the green shaded area there is a very strong trend. - in the yellow shaded area there is a strong trend. - below the yellow shaded area there is no trend.
Indicador Pine Script®
por kaaiii
3
RedK_Directional Index / K xDMIHere's a modern take on the famous DMI/ADX. i first wrote this on another platform few years ago, so i'm happy to be able to share it on TradingView quick refresher: what does DMI/ADX tell us: ------------------------------------------------------ in simple terms, at the core of this indicator, there are 3 main calculations / lines: the Plus Directional Index ( +DI ) which represents how much the bulls are able to push the high of a bar compared to previous one, the Minus Directional Index ( -DI ), showing how much the bears are able to push the low of a bar from previous one, then the Average Directional index ( ADX ) line, which creates an oscillator of the +DI and -DI to represent the strength of a trend -- usually the lines will be colored accordingly (bulls = green, bears = red, and any different color for the ADX ) Similar to my version of the RSI , we take a classic concept, then use the computing and visualization "super powers" available to us today, to extend and improve on what those masters created in the past. I guess they sort of expected us to do exactly that :) this "extended" version of DMI/ADX provides couple of highly needed features (in my opinion) -- let's explore: trying as much as possible to avoid jargon - pls forgive me if i failed in some places. ------------------------------------------------------------------------------------------------- 1 - the big change: the ability to visualize the ADX in a way that makes some more sense. - the original calculation restricted the ADX to oscillate below zero - i'm sure they had a good reason to build it that way in the past - but to me, it becomes super hard to interpret what the ADX line means, especially when a negative trend (the bears) take over. by removing that restriction and allowing the ADX to oscillate up or down (and we're free to do that, so the indicator shows *us* what *we need* to see), we end up with an improved representation of the trend and the trend strength. - also the original calculation applies a moving average (default 14 bars) of a moving average (another 14 of the Directional Indexes, which represent the strength of bulls vs bears) to calculate the ADX - that makes the ADX very "removed" from the base price values - i change that, and just smooth the initial +Di / -Di then calculate the ADX from there. again, this shows me the outcome of the (relatively) immediate moves. 2 - i use weighted average WMA () in all my averaging calculations .. i believe this type of average is the best to express the importance of recent days / bars vs the ones further in the past, compared to other averaging techniques 3 - ability to make the DMI volume-weighted .. but contrary to my RSI , this is not set by default. 4 - couple of options to view the unrestricted ADX (as an area or as histogram/columns .. which i call Vertical Bars) for improved visualization other stuff: 5 - a "step" option for the ADX .. you can set the step option to an increment of, say 5 or 10. this is in case you prefer to see the trend more in "quality" terms - so the equivalent of weak, medium, strong, v. strong...etc -- since in reality, a number like 47.7683 doesn't really mean anything specific 6 - optional "strong trend" adjustable level Settings & usage suggestion: ----------------------------------- i prefer to use the defaults (length = 7, smoothing = 3, ..etc) -- i believe these are more suitable to the much faster trading that we have now. you can review the comparison chart and see if this works for you, and adjust as you need. from a "signal" standpoint, you can use the xDMI as you use the classic DMI/ADX, bulls (or bears) are in control when the corresponding DI line crosses the other going up, *AND* moving above the "strong trend" level that you can set as an extra filter (usually a value between 20 to 30), while ADX will show the quality/strength of the trend. i suggest you also utilize this indicator with other trend / momentum confirmation methods, and additional analysis and not in isolation - as well as inspecting the prevailing / longer time frame to ensure you're acting in the direction of the broader move / trend. the above chart includes a side-by-side comparison between our new xDMI with the classic DMI/ADX using the same settings - then we add at the bottom panel also the xDMI, but with my default (faster) settings and showing other visualization options that can be utilized - the Moving Averages on the top / price panel is just to help put the price movement into perspective in terms of trend and trend strength. The code is open and commented - please feel free to use, share, comment & provide feedback. if you're a DMI fan, and you find this useful in your trading, i would be more than happy to hear about it Good luck!
Indicador Pine Script®
por RedKTrader
7