OPEN-SOURCE SCRIPT
MTF ADX & DI - Monitoring Panel
Monitoring panel showing the ADX (Average Directional Index) & DMI (Directional Movement Index) as color code for 6 different timeframes.
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
Inggin menggunakan skrip ini pada chart?
The new Order Block Finder V2 is available as invite-only script. Please visit the website for all the details and how to get access:
sites.google.com/view/wugamlo-indicators/
sites.google.com/view/wugamlo-indicators/
Pernyataan Penyangkalan
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