MAX SAHAM ADX with DI — Indicator by MaxSaham

averagedirectionalindex pricevolumetrend trendanalysis abgmax maxsaham

Max Saham's ADX line with D+ & D-

ADX is used to quantify trend strength.

When the D+ (+DMI) is dominant and rising, price direction is up.

When the D- (-DMI) is dominant and rising, price direction is down. But the strength of price must also be considered.

Uses Wilder's MA to get a more accurate ADX reading as compared to SMA.

Also added the green background to indicate the trend and also dots to indicate bull and bear crossing of the DMI's

MAX SAHAM

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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.

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