This indicator combines the Average Directional Index (ADX) for trend strength, Money Flow Index (MFI) for volume flow analysis, and Relative Strength Index (RSI) for momentum signals.
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
64 lines of Pine Script v4 from RSI-ADI-Combo-[Numchuck]-1.2.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
RSI-ADI-Combo-[Numchuck]-1.2.pine
//@version=4
// Version 1.1 - jan 2020 - Bas Willemstijn
study(title="RSI-ADI-Combo [Numchuck]", shorttitle="RSI-ADX", overlay=false)
// ADI with AD+ and AD- gives first indication of direction of trend
len2 = input(14, minval=1, title="DI Length")
lensig = input(14, title="ADX Smoothing", minval=1, maxval=50)
up1 = change(high)
down1 = -change(low)
trur = rma(tr, len2)
plus = fixnan(100 * rma(up1 > down1 and up1 > 0 ? up1 : 0, len2) / trur)
minus = fixnan(100 * rma(down1 > up1 and down1 > 0 ? down1 : 0, len2) / trur)
sum = plus + minus
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), lensig)
osob = input(40, title="Exhaustion Level for ADX, default = 40")
col = adx <= 10 ? color.gray : adx > 10 and adx <= 20 and plus > minus ? #98FF98 :
adx > 10 and adx <= 20 and plus < minus ? #E77471 :
adx > 20 and adx <= osob and plus > minus ? color.lime :
adx > 20 and adx <= osob and plus < minus ? color.red :
adx > osob and plus > minus ? color.green :
adx > osob and plus < minus ? color.maroon : color.white
// barcolor(col)
// //plot(plus, color=lime, title="+DI", style=line, linewidth=3)
// //plot(minus, color=red, title="-DI", style=line, linewidth=3)
plot(adx, color=col, title="ADX", style=plot.style_columns)
plot(0, title="0 Line", style=plot.style_line, linewidth=1, color=color.gray)
plot(10, title="10 Line", style=plot.style_circles, linewidth=1, color=color.gray)
plot(20, title="20 Line", style=plot.style_circles, linewidth=1, color=color.gray)
plot(osob, title="10 Line", style=plot.style_circles, linewidth=1, color=color.gray)
// Money Flow Index
length = input(title="Length", defval=14)
rawMoneyFlow = hlc3 * volume
positiveMoneyFlow = 0.0
positiveMoneyFlow := hlc3 > hlc3[1] ? positiveMoneyFlow + rawMoneyFlow : positiveMoneyFlow
negativeMoneyFlow = 0.0
negativeMoneyFlow := hlc3 < hlc3[1] ? negativeMoneyFlow + rawMoneyFlow : negativeMoneyFlow
moneyFlowRatio = sma(positiveMoneyFlow, length) / sma(negativeMoneyFlow, length)
moneyFlowIndex = 100 - 100 / (1 + moneyFlowRatio)
plot(moneyFlowIndex, title="MFI", style=plot.style_line, linewidth=3, color=color.yellow)
// RSI gives signal voor bullish or bearish position in combination with Aroon and ADI
src = close
len = input(14, minval=1, title="RSI Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - 100 / (1 + up / down)
plot(rsi, title="RSI", style=plot.style_line, linewidth=3, color=color.black)
band2 = hline(80, title="Overbought signal", linestyle=hline.style_dashed, linewidth=1, color=color.red)
band1 = hline(50, title="Buy/Sell signal Line", linestyle=hline.style_dashed, linewidth=2, color=color.silver)
band0 = hline(20, title="Oversold signal", linestyle=hline.style_dashed, linewidth=1, color=color.lime)
Overview
The ADX is plotted as colored columns with background coloring indicating uptrend strength in green tones or downtrend strength in red tones based on user-defined exhaustion levels. The MFI line shows buying and selling pressure from money flow, while the RSI line highlights overbought and oversold conditions with dashed horizontal lines. All plots appear in a separate pane below the price chart. Main settings adjust the ADX length, ADX smoothing length, ADX exhaustion level, MFI length, and RSI length. The script has no repaint or lookahead issues.
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
len2
ADX Smoothing
int
14
lensig
Exhaustion Level for ADX, default = 40
int
40
osob
Length
int
14
length
RSI Length
int
14
len
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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