Color-coordinated line for DMI with an and histogram to gauge momentum, mark potential reversals, and quickly gather all the information you need to make your decisions.
- Color of the line indicates the current trend
- An below the indicates a potentially falling/reversing trend
- Customizable line w/ alerts for crossovers
- Histogram to help catch potential reversals faster, and to gauge the momentum
Please let me know what you think, and in any features you think would increase the effectiveness of this amazing tool.
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.
This is the DMI/ADX Indicator but with an attached EMA and Histogram to provide deeper information at a faster rate to digest and make any action.