Duyck

ADX-DI MTF trend indication - JD version 2

Version 2 added support for MTF, to see the trend direction on the lower or higher timeframe.

As an example to see the difference, the indicator is added three times, one time for the current TF, one set at the higher and one at the lower TF.

Cudo's to Chris Moody for the MTF-switching-code!!

JD .
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.

You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!

Comments

why no comments or appreciation thus far? Excellent indicator! Thanks for sharing!
+2 Reply
Duyck pjay
@pjay,

Thank you very much for the appreciation.

My goal is to try to build indicators that give you signals in an easier and more visually appealing way than traditionally by looking if one line crosses another at the same time something else happens,... etc.

Of course these still only help to confirm other analysis. ;-)


If it may interest you, I've made another version of this exact same indicator, but plotted against the 200 ema line, I discovered that it can be seen as a kind of buffer against reversals. (especially when you put it in a longer timeframe like 3h)






I've also made an indicator based on either RSI or MFI (whatever you prefer) for exact entry signals and trend moves.
If you want to, you can check it out as well. :-)




Updates are frequently coming!


Greetings,
JD.
+1 Reply
pjay Duyck
@Duyck, Thanks for the link to the other indicators. I very much like the rsi/mfi mtf. On some instruments I am adding both rsi AND mfi and mostly its better to avoid trades where there is discordance between the two on the same TF.
Thanks and keep up the great work! Look forward to your updates!!!
Reply
Thank you :)
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thank you :)
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Duyck maxonline
@maxonline, my pleasure.
Reply
very cool, thanks for sharing!
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