ADX is shown as histogram :
- light silver bars = price is under thresold but still no trend, be patient.
- strong gray bars = prepare to enter the trade soon
- blue bars = price momentum so ride the trend
- yellow bars = do not trade (price reverts or consolidates)
Background color/bottom area based on DI+/DI- :
- green = uptrend
- red = downtrend
Top pink triangles appears when ADX is relatively low based on "lookback" history (not based on previous static threshold) so a new trend may happens so stay alerts.
- Prepare for enter when bars turn dark gray and/or pink triangles appears.
- Enter position as soon as you see blue bar (Long or Short as indicated by the area color)
- and Exit on first yellow bar.
Quite simple, works on multiple HTF/LTF and might be used with graphical analysis to find best opportunities.
- Updated SADX bars visualization (mirror mode),
- Set Background color to reflect uptrend (green) or downtrend (red) period,
- Added BBW (Bollinger Bands Width) lines and Squeeze indicator that may complete SADX extensions/compressions/squeeze periods,
- Added ATR (Average True Range) Squeeze indicator (squares) that very often precedes a relative bigger candle or move.
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Disclaimer : No financial advice. Ideas & scripts are for educational purpose only, always do your own research.
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