CM_ADX+DMI Mod — Indicator by TheYangGuizi

ADX DMI

adx dmi

Mashed together Chris Moody's ADX thing with his DMI thing.
So you can see trend strength + direction
green-ish = uptrend-ish//red-ish = downtrend-ish
Colors can be adjusted though.
below 10 = gray, not much going on
10 - 20 = light green/light red, could be the beginning o something
20 - 40 = bright green / bright red, something is going on
above 40 = dark green, dark red, exhaustion (default is 40, can be adjusted to whatever)

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.

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//Created By Chris Moody on 11-18-2014
//Modded, YG, mashed together DMI + ADX
//Designed to go with ADX Trading System.
//Video Overview Explaining Setup
study(title="CM_ADX_V1", shorttitle="CM_ADX + DMI")
len = input(14, minval=1, title="DI Length")
lensig = input(14, title="ADX Smoothing", minval=1, maxval=50)


up = change(high)
down = -change(low)
trur = rma(tr, len)

plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / trur)
minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / trur)

sum = plus + minus 
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), lensig)

osob=input(40,title="Exhaustion Level for ADX, default = 40")


col = adx <= 10 ? gray : adx > 10 and adx <= 20 and plus > minus ? #98FF98 :adx > 10 and adx <= 20 and plus < minus ? #E77471 : adx > 20 and adx <= osob and plus > minus ? lime :adx > 20 and adx <= osob and plus < minus? red: adx > osob and plus > minus ?green:adx > osob and plus < minus ?maroon:white
barcolor(col)
//plot(plus, color=lime, title="+DI", style=line, linewidth=3)
//plot(minus, color=red, title="-DI", style=line, linewidth=3)
plot(adx, color=col, title="ADX", style=columns)
plot(0, title="0 Line", style=line, linewidth=1, color=gray)


plot(10, title="10 Line", style=circles, linewidth=1, color=gray)

plot(20, title="20 Line", style=circles, linewidth=1, color=gray)

plot(osob, title="10 Line", style=circles, linewidth=1, color=gray)