This bad boy shows the same info as a normal ADX & DI but I've endeavoured to remove a lot of the confusion. I also added red/green colour gradients to show how much ADX is trending, the darker the colour, the stronger the trend. This should help to avoid the upsidedowniness and confusion I've always found with the original. I made this a while ago and have made a few changes recently but I can't remember where I go the basic ADX code from, so credit to whoever that was. Enjoy
Lovely!
This will finally give me some time & space, to get to know ADX+DI
(between the plethora of already stacked indicator spaghetti on my screen a.o.. (yes.. this too is awesome)
ICEKI
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Very nice enhancement, thank you so much =D
OldGreenDragon
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hi @scarf fantastic indi. In your ADX Hist indicator are these bugs ?? using pinescript v1, in line 25 you calculate di using a fixed 25 => "di=25+(DIPlus-DIMinus)" but in line 31 you plot di histogram based on the dynamic threshold th ??
olivier25298
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@OldGreenDragon, I have noticed too the +25... I too wonder what it is for... The configurable ADX 25 threshold comes from Wilder book where he explains that below that value, there is not enough movement to be a profitable market... However, this has nothing to do the DI lines crossovers which indicates a trend change. Note that the bars colors are correct. They are green above 25 and red below. All that this +25 is doing. It is moving the crossover point from 0 to 25 which IMHO is confusing as hell and AFAIK provides no benefit...
olivier25298
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one possible usage of offseting the DI line could be if someone wants to feed it into another indicator that does not accept negative value... If it is the case then a better offset value should be 100 since each DI value can vary between 0 and 100
tiamo3733
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Wow, It is awesome. Thank you so much.
abdulraufabdulrahman2021
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Excellent and Remarkable work.... Its easy to understand the trend and making your valuable decision easy. Thanks for the Nice boy :)
ramyzora74
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Best ADX.
chugani
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Good morning, there is no value on the right hand side of the indicator.
This will finally give me some time & space, to get to know ADX+DI
(between the plethora of already stacked indicator spaghetti on my screen a.o.. (yes.. this too is awesome)