OPEN-SOURCE SCRIPT
MTF ADX & DI - Monitoring Panel

Monitoring panel showing the ADX (Average Directional Index) & DMI (Directional Movement Index) as color code for 6 different timeframes.
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
This gives a very easy overview on the current state of the market and if it is trending.
- ADX basically describes the strength of a Trend
- DMI give indication on the direction of the trend, usually shown as +DI and -DI
Meanings of the Colors:
ADX is below Low Threshold (no trend) : Black
ADX is above Low Threshold and DI is positive (weak bullish trend) : Light Green
ADX is above High Threshold and DI is positive (strong bullish trend) : Dark Green
ADX is above Low Threshold and DI is negative (weak bearish trend) : Light Red
ADX is above High Threshold and DI is negative (strong bearish trend) : Dark Red
- Low Threshold (default = 20) and High Threshold (default = 50) can be changed in the settings
- Timeframes can be changed, but the description labels are currently hardcoded - if you want to change it, just copy the script and change them
- Currently there are two additional timeframes commented in the code - if you want to use them, just copy the script and uncomment them
Have fun and as always I am open for constructive feedback.
Cheers!
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
The new Order Block Finder V2 is available as invite-only script. Please visit the website for all the details and how to get access:
sites.google.com/view/wugamlo-indicators/
sites.google.com/view/wugamlo-indicators/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
The new Order Block Finder V2 is available as invite-only script. Please visit the website for all the details and how to get access:
sites.google.com/view/wugamlo-indicators/
sites.google.com/view/wugamlo-indicators/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。