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Direcational Index

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pawan
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8 views

Direcational Index

Uploaded by

pawan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//@version=5

indicator("Average Directional Index", shorttitle="ADX", format=format.price,


precision=2, timeframe="", timeframe_gaps=true)
adxlen = input(14, title="ADX Smoothing")
dilen = input(14, title="DI Length")

dirmov(len) =>
up = ta.change(high)
down = -ta.change(low)
plusDM = na(up) ? na : (up > down and up > 0 ? up : 0)
minusDM = na(down) ? na : (down > up and down > 0 ? down : 0)
truerange = ta.rma(ta.tr, len)
plus = fixnan(100 * ta.rma(plusDM, len) / truerange)
minus = fixnan(100 * ta.rma(minusDM, len) / truerange)
[plus, minus]

adx(dilen, adxlen) =>


[plus, minus] = dirmov(dilen)
sum = plus + minus
adx = 100 * ta.rma(math.abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)
adx

sig = adx(dilen, adxlen)

// Plot the ADX line


plot(sig, color=color.red, title="ADX")

// Add a horizontal line at 25


hline(25, "Threshold", color=color.blue, linestyle=hline.style_dotted)

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