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Directional Movement Index + ADX & Keylevel Support

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ADX and DMI             oscillator with the keylevel coded in to the script, set for 23, suggested settings is 23 - 25 any trade with the ADX above the keylevel is a strong indicator that it is trending.
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study("Directional Movement Index + ADX + Ploted KEYLEVEL", shorttitle="DMI/ADX/KEYLEVEL")
adxlen = input(14, title="ADX Smoothing")
dilen = input(14, title="DI Length")
keyLevel = input(23, title="key level for ADX")
dirmov(len) =>
	up = change(high)
	down = -change(low)
	truerange = rma(tr, len)
	plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / truerange)
	minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / truerange)
	[plus, minus]

adx(dilen, adxlen) => 
	[plus, minus] = dirmov(dilen)
	sum = plus + minus
	adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)
	[adx, plus, minus]

[sig, up, down] = adx(dilen, adxlen)

plot(sig, color=red, title="ADX")
plot(up, color=blue, title="+DI")
plot(down, color=gray, title="-DI")
plot(keyLevel, color=white, title="Key Level")
console
2 years ago
ahh sorry new doing this, the script is the bottom oscillator the others are from Chris Moody, the bottom oscillator is the script, the DMI + ADX + KEYLINE together.
+1 Reply
JimmyJambles console
2 years ago
Thanks mate. I like how your ADX has the key level volitility line. Great work.
Reply
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