OPEN-SOURCE SCRIPT
Dynamic Color-changing ADX
Description:
This Advanced Directional Index (ADX) indicator helps traders easily identify trend strength with a dynamic color-changing ADX line and a visual threshold at 20.
Features:
✅ Color-Changing ADX Line
🟢 Green when ADX is above 20 → Indicates a strong trend.
🔴 Red when ADX is below 20 → Indicates a weak or choppy market.
✅ Threshold Line at 20
Helps traders quickly determine whether a market is trending or ranging.
Dotted gray line at 20 serves as a key reference level.
✅ Optimized for Clarity & Efficiency
Uses the traditional 14-period ADX with Directional Movement Index (DMI) smoothing.
Simple and clean visualization for traders of all experience levels.
💡 How to Use:
Strong Trend: Look for ADX above 20 (green line) to confirm a trending market.
Weak Trend/Ranging: ADX below 20 (red line) signals a weak or sideways market.
Combine with MACD, RSI, or Moving Averages for confluence in trade setups.
🔔 Perfect for traders looking to:
✔️ Avoid choppy, low-momentum markets.
✔️ Confirm trend strength before entering trades.
✔️ Improve decision-making with a visualized ADX signal.
If you find this script useful, give it a like 👍 & follow for more powerful indicators! 🚀📈
#Trading #ADX #TrendStrength #TradingView #TechnicalAnalysis
This Advanced Directional Index (ADX) indicator helps traders easily identify trend strength with a dynamic color-changing ADX line and a visual threshold at 20.
Features:
✅ Color-Changing ADX Line
🟢 Green when ADX is above 20 → Indicates a strong trend.
🔴 Red when ADX is below 20 → Indicates a weak or choppy market.
✅ Threshold Line at 20
Helps traders quickly determine whether a market is trending or ranging.
Dotted gray line at 20 serves as a key reference level.
✅ Optimized for Clarity & Efficiency
Uses the traditional 14-period ADX with Directional Movement Index (DMI) smoothing.
Simple and clean visualization for traders of all experience levels.
💡 How to Use:
Strong Trend: Look for ADX above 20 (green line) to confirm a trending market.
Weak Trend/Ranging: ADX below 20 (red line) signals a weak or sideways market.
Combine with MACD, RSI, or Moving Averages for confluence in trade setups.
🔔 Perfect for traders looking to:
✔️ Avoid choppy, low-momentum markets.
✔️ Confirm trend strength before entering trades.
✔️ Improve decision-making with a visualized ADX signal.
If you find this script useful, give it a like 👍 & follow for more powerful indicators! 🚀📈
#Trading #ADX #TrendStrength #TradingView #TechnicalAnalysis
Script open-source
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Per aggiungerlo al grafico, mettilo tra i preferiti.
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Declinazione di responsabilità
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