Crypto Directional Movement Index DMI/ADX

2020년 12월 8일

Crypto ADX + DMI

This indicator is a customised version of the ADX + DMI by J. Welles Wilder in 1978, with default settings optimal for cryptocurrencies.

What is the DMI (ADX) Indicator?

According to Investopedia:

DMI (ADX) consists of three indicators that measure a trend’s strength and direction. Three lines compose the Direction Movement Index (DMI): ADX (black line), DI+ (green line), and DI- (red line). The Average Directional Index (ADX) line shows the strength of the trend. The higher the ADX value, the stronger the trend. The color of the lines can be altered, but black, green, and red are the default in most software.

The Plus Direction Indicator (DI+) and Minus Direction Indicator (DI-) show the current price direction. When the DI+ is above DI-, the current price momentum is up. When the DI- is above DI+, the current price momentum is down.

This Version

The ADX default value has been changed to from 14 to 2 (optimal for cryptocurrencies). The background flashes red when the –DMI goes above the HZ1 threshold and green when the +DMI does the same. There is an option to change it so that it’ll only flash when the ADX and the DMI are both above the threshold. The ADX changes color when above HZ1.

Red and green plotshapes appear at DMI crossovers and three horizontal lines have also been added.

Any suggestions are most welcome

2020년 12월 8일

릴리즈 노트

Updated notes

2021년 2월 3일

릴리즈 노트

Added extra color changes.

Both DMIs will change color depending on a positive or negative slope.

Plotshapes are now tiny and added notes in the script on how to change them.

Also changed default background colours.

2021년 6월 6일

릴리즈 노트

- Changed default colors and settings
- Updated input menu

2021년 6월 6일

릴리즈 노트

- Made crossover dots optional