Average Directional Index-Buschi — Indicator by MagicEins

averagedirectionalindex average directional index adx

A simple modification of the built-in "Average Directional Index":

To identify wether there is an uptrend or a downtrend, the function color is conditional:
no trend: black
small uptrend (weak threshold): light green
big uptrend (strong threshold): green
small downtrend (weak threshold): light red
big downtrend (strong threshold): red

Release Notes:

German translation

Deutsch:
Eine einfache Modifikation des eingebauten "Average Directional Index":

Um einen Aufwärts- oder Abwärtstrend zu identifizieren, ist die Farbe der Linie entsprechend codiert:
kein Trend: schwarz
schwacher Aufwärtstrend (weak threshold): hellgrün
starker Aufwärtstrend (strong threshold): dunkelgrün
schwacher Abwärtstrend (weak threshold): hellrot
starker Abwärtstrend (strong threshold): rot

Open-source script

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?