Average Directional Index (ADX) + Trend Thresholds and Color

This script builds off of the built-in indicator TradingView provides and adds the following:

1. Horizontal lines for each of the common, which are as follows:

0-20 Absent or Weak Trend
20-25 No trend or trend beginning
25-50 Strong Trend
50-75 Very Strong Trend
75-100 Extremely Strong Trend

I added 20-25 as "No trend or trend beginning". I have found a lot of information always covers 0-20, then 25-50, but no 20-25, this fills that gap.

2. Background colors for each section ranging from blue to red to indicate cooler to warmer trends.

The positioning of the horizontal lines, as well as the colors and their transparency levels can be customized through the settings window.

發行說明

Added ability in settings to color bars based on ADX value. By default the same colors are used as the indicator, but you can change those colors separate from the ones in the indicator, as well as their transparency independent from the indicator.

發行說明

Added a new setting "Enable Line Directional Coloring" , If enabled, in the pane this will adjust the color of the ADX line so that it matches the color of the last bar. Green when close > open, Red when close < open. By default it's disabled so that the behavior doesn't change during an update from a version that did not have this feature.

開源腳本

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MatteoArroz

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開源腳本

MatteoArroz