DMI ADX TREND 2.0 (edit by GeertVD) — Indicator by GeertVD

averagedirectionalindex directionalmovement adx dmi vfi

Edit of the popular script by @TraderR0BERT

New features:
- horizontal colored areas, indication weak/medium/strong trend
- vertical bars, signaling trend/momentum changes
- DI+ vs DI- contraction/expansion histogram (to measure the DI volatility)

Release Notes:

minor update

Release Notes:

I changed the detection of a momentum change: momentum change now corresponds to the high of the MDI, provided it is above the user-specified threshold.

Release Notes:

Added the option to overlay the VFI on the ADX graph.

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.

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