This indicator shows a histogram of the ADX with the following colors:
Background gray => ADX under configured lower level which means no trend is present
Background dark orange => ADX between lower and upper level and down trend is present
Background orange => ADX between over upper level and down trend is overheated
Background dark green => ADX between lower and upper level and up trend is present
Background lime => ADX between over upper level and up trend is overheated
Additionally i have added a SMA of the ADX. The crossings of both are shown with a background color:
yellow => ADX crossed SMA line upward which is the case with rising trend
fuchsia => ADX crossed SMA line downward which is the case with falling trend
The indicator is optimated for small browser windows or multiple chart layouts where you have not much space left for your indicators but you also want to read the indicator signals.
Hi, I would like to try your indicator on my strategy. May I have access? Thank you!
HanktheTank
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Hi TominaterGER, sounds like a useful script. I've been trying to get plotshapes to work on the intersection on the sma lines but it hasn't clicked yet. I'd likely to check out your code and learn a bit more about how it's done. Thanks!