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Indicator · Pine Script v5 · Own pane
Modified ADX
This indicator computes the standard ADX from directional movement, subtracts twenty so that zero becomes the usual trend-strength threshold, and draws the result as columns in a separate pane.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code40
Settings3inputs
LicenceNone statedfile: MPL-2.0
Last update4 years ago10 Jan 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
40 lines of Pine Script v5 from indicator/INDICATOR Modified ADX (林19).pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © HayashiHitsuji
//@version=5
indicator("INDICATOR: Modified ADX (林19)", shorttitle = "ADX (林19)", timeframe = "")
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// INDICATOR INPUT =============================================================
adx_period = input.int(14, "DI Length")
adx_lensig = input.int(14, "Len Sig")
adx_ma_per = input.int(9, "ADX MA")
// ========================================================================== //
// INDICATOR CALCULATION =======================================================
[diplus, diminus, adx_normal] = ta.dmi(adx_period, adx_lensig)
adx = adx_normal - 20
adx_ma = ta.sma(adx, adx_ma_per)
// ========================================================================== //
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// INDICATOR COLOR & CONDITION =================================================
adx_color = adx > 0 ? adx[1] < adx ? #55FF00 : #2B8000 : adx < 0 ? adx[1] < adx ? #800000 : #FF0000 : na
// ========================================================================== //
// PLOT INDICATOR ==============================================================
plot(adx, color = adx_color, style = plot.style_columns)
plot(adx_ma, color = color.white, style = plot.style_circles)
// ========================================================================== //
Overview
Positive columns are green, brighter when rising, and negative columns are red, brighter when falling toward zero. A 9-period moving average of the shifted value is drawn as circles. The directional index length, ADX smoothing and average length are adjustable.
- ADX shifted so twenty becomes zero
- Columns coloured by sign and direction
- Moving average of the shifted ADX
- Adjustable DI, smoothing and average lengths
Details
Published by
hayashi19 on GitHub
Code credit
HayashiHitsuji, as written in the script's header
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| DI Length | int | 14 | adx_period |
| Len Sig | int | 14 | adx_lensig |
| ADX MA | int | 9 | adx_ma_per |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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