[WJ] - ADX v2 [DMI, Alerts, Histogram, Customizable] — Indicator by woodyjohnson

averagedirectionalindex directionalmovement adx dmi

A handy all-in-one package for DMI and ADX

Color-coordinated line for DMI with an EMA and histogram to gauge momentum, mark potential reversals, and quickly gather all the information you need to make your decisions.

Quick take-aways:

- Color of the ADX line indicates the current trend
- An ADX below the EMA indicates a potentially falling/reversing trend
- Customizable line w/ alerts for ADX crossovers
- Histogram to help catch potential reversals faster, and to gauge the momentum

Please let me know what you think, and in any features you think would increase the effectiveness of this amazing tool.

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?