Direction&Strength Indicator

This simple Indicator shows:
(1) The Direction of a trend
(2) The Strength of a trend
hence the name "Direction & Strength Indicator.

How to read this Indicator:

Indicator above "resistance area" => strong UP trend
Indicator above 0 .................. => weak UP trend

Indicator below 0 .................. => weak DOWN trend
Indicator below "resistance area" => strong DOWN trend

Notice that this is a time-lagging indicator. Severity of timelag depends on set period of the indicator!
You can also identify overbought and oversold areas. (Tip: Compare to RSI.)
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.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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