paaax

[PX] ADX Boxes

Hello guys,

today I would like to share an indicator that I had in my mind for quite some time. I call it ADX Boxes.

How does it work?

What the indicator does is very simple. Whenever the ADX falls below a certain threshold (which can be managed in the user input settings) a box will appear. The box will continue to grow as long as the ADX stays below the threshold. Once the ADX goes back above the threshold, the box will stop growing and will set its right border.

There are two modes, which can be used to determine the upper and lower border of the box. The first one is called "Extremes", which plots the borders the highest high and lowest low for the range below the threshold. The second one is called "Avg. High/Low", which plots the borders at the average high and average low within the range.
Furthermore, the indicator contains an option to show the average value of the detected range below the ADX threshold.

Just like all my other indicator scripts, this one comes with different styling options for boxes in progress, settled boxes and the average value.

Hopefully, some of you find it useful.

Make sure you leave a follow and a like :)

Happy trading!!
Release Notes: Added the option "Show Box?" to turn on and off the box visualization. Turning the box off enables the indicator to plot more mid-lines in history, which turned out to be very useful when projected into the future.
Release Notes: Added an option to extend the mid line.
Release Notes: Fixed "Pine cannot determine the referencing length of a series."-error and updated header.
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http://www.pascal-simon.de - Custom indicator development

Comments

I have this error
Script could not be translated from: )|E||B|showBox
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Hi, if I well understood this indicator could give a hint when the market is going horizontal? Correct
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it says - the pine cannot determine the referencing length of series. what should i do?
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paaax siddharthbudhale
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I'm having issue with the indicator
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Very useful, thank you!
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paaax d14b0ll0s
@d14b0ll0s, you are welcome :)
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Sir
I hope you explain how to trade with this indicator
Simple Explanation
When to buy and when to sell?
thank you
Reply
paaax CryptoMoood
@CryptoMoood, please have a look at my answer below this post. Thank you and happy trading.
+2 Reply
Would you plz write some points on how to trade based on this indicator! Thanks you
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