OPEN-SOURCE SCRIPT
APEX - ADX/ADXR/DI+/DI- [v1]
Average Directional Movement Index – ADX can be used to help measure the overall strength of a trend. The ADX indicator is an average of expanding price range values. The ADX is a component of the Directional Movement System developed by Welles Wilder. This indicator on its own does not give you a direction but instead measure the strength of the trend. In general values above 20 are considered a trending environment above 30 is then a strong trend and above 50 is a very strong trend.
Average Directional Movement Rating is based on the momentum change of the ADX itself. It is calculated by adding two ADX values (the current value and a value n periods back), then dividing by two. This additional smoothing makes than the ADXR slightly less responsive than ADX but helps to avoid noise.
Minus Directional Indicator (-DI) measures the presence of a downtrend and is part of the Average Directional Index (ADX). If -DI is sloping upward, it's a sign that the price downtrend is getting stronger. The Positive Directional Indicator (+DI) is a component of the Average Directional Index (ADX) and is used to measure the presence of an uptrend. When the +DI is sloping upward, it is a signal that the uptrend is getting stronger. In general values above 20 are considered a trending environment above 30 is then a strong trend and above 50 is a very strong trend.
Average Directional Movement Rating is based on the momentum change of the ADX itself. It is calculated by adding two ADX values (the current value and a value n periods back), then dividing by two. This additional smoothing makes than the ADXR slightly less responsive than ADX but helps to avoid noise.
Minus Directional Indicator (-DI) measures the presence of a downtrend and is part of the Average Directional Index (ADX). If -DI is sloping upward, it's a sign that the price downtrend is getting stronger. The Positive Directional Indicator (+DI) is a component of the Average Directional Index (ADX) and is used to measure the presence of an uptrend. When the +DI is sloping upward, it is a signal that the uptrend is getting stronger. In general values above 20 are considered a trending environment above 30 is then a strong trend and above 50 is a very strong trend.
Open-source script
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.