OPEN-SOURCE SCRIPT
ADX and DI Levels
ADX:
ADX is used to quantify trend strength. ADX calculations are based on a moving average of price range expansion over a given period of time. The default setting is 14 bars, although other time periods can be used.1
ADX can be used on any trading vehicle such as stocks, mutual funds, exchange-traded funds and futures.
DI (+/-):
The directional movement index (DMI) is an indicator developed by J. Welles Wilder in 1978 that identifies in which direction the price of an asset is moving. The indicator does this by comparing prior highs and lows and drawing two lines: a positive directional movement line (+DI) and a negative directional movement line (-DI). An optional third line, called the average directional index (ADX), can also be used to gauge the strength of the uptrend or downtrend.
This indicator has the length changed from 14 to 9 so you can have more updated price calculation
I also add the 4 levels I use for day trading; the 10, 20, 30, 40-50 are the levels I like to see the Di to break over.
A lot of traders use different levels, but these I have and found most useful. You can set alerts when any Di crosses over the 40 for true trend breakout!
ADX is used to quantify trend strength. ADX calculations are based on a moving average of price range expansion over a given period of time. The default setting is 14 bars, although other time periods can be used.1
ADX can be used on any trading vehicle such as stocks, mutual funds, exchange-traded funds and futures.
DI (+/-):
The directional movement index (DMI) is an indicator developed by J. Welles Wilder in 1978 that identifies in which direction the price of an asset is moving. The indicator does this by comparing prior highs and lows and drawing two lines: a positive directional movement line (+DI) and a negative directional movement line (-DI). An optional third line, called the average directional index (ADX), can also be used to gauge the strength of the uptrend or downtrend.
This indicator has the length changed from 14 to 9 so you can have more updated price calculation
I also add the 4 levels I use for day trading; the 10, 20, 30, 40-50 are the levels I like to see the Di to break over.
A lot of traders use different levels, but these I have and found most useful. You can set alerts when any Di crosses over the 40 for true trend breakout!
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.