OPEN-SOURCE SCRIPT
MTF ADX & DI - Monitoring Panel
Monitoring panel showing the ADX (Average Directional Index) & DMI (Directional Movement Index) as color code for 6 different timeframes.
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.