Multi Timeframe ADX and DI w/ Alerts
Jan 13, 2020
The Multi Timeframe ADX and DI indicator provides a condensed visual matrix of trend strength and direction across three user-defined timeframes. This tool allows traders to quickly identify trend alignment and momentum shifts by processing ADX and DI data into a simple color-coded status display.
Usage
The indicator displays three horizontal circles representing the High (HTF), Mid (MTF), and Low (LTF) timeframes. Traders can use this to identify confluence between different resolutions:
- Green Circle: Indicates a bullish trend where ADX is above 20 and DI+ is greater than DI-.
- Red Circle: Indicates a bearish trend where ADX is above 20 and DI- is greater than DI+.
- Gray Circle: Indicates a non-trending or weak environment (ADX below 20).
Common examples include looking for "Triple Alignment," where all three circles match the same color, suggesting high-probability trend continuation.
Details
The script calculates the Average Directional Index (ADX) and Directional Indicators (DI+ and DI-) using standard Wilders-style smoothing (RMA). It employs a custom function to derive these values and uses the request.security function to fetch data from the HTF, MTF, and LTF resolutions. A trend is only confirmed if the ADX value exceeds the 20 threshold, ensuring that directional bias is only highlighted during periods of sufficient trend strength.
Settings
- DI Length: Sets the lookback period for the Directional Indicators.
- ADX Smoothing: Sets the smoothing period for the ADX calculation.
- HTF Resolution: Sets the timeframe for the highest level of trend analysis (e.g., Weekly).
- MTF Resolution: Sets the timeframe for the middle level of trend analysis (e.g., Daily).
- LTF Resolution: Sets the timeframe for the lowest level of trend analysis (e.g., 240 minutes).
FAQ
How do I use the Multi Timeframe ADX and DI?
The indicator is best used to confirm trend alignment. When the circles for all timeframes turn the same color, it indicates a strong trend across multiple horizons.
What do the colors mean?
Green signifies a bullish trend, red signifies a bearish trend, and gray indicates that the trend is currently too weak to be classified based on the ADX threshold.
How can I access this tool?
How to access Multi Timeframe ADX and DI? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
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