RSI c/w ADX and ATR data

The RSI c/w ADX and ATR data indicator provides a comprehensive momentum and trend analysis toolkit by integrating the Relative Strength Index with Average Directional Index (ADX) values, ATR-based volatility data, and a customizable moving average.

Usage

The tool can be used to identify trend strength, momentum shifts, and potential breakout points through several key components:

• RSI & Moving Average: Use the relationship between the RSI and its Simple Moving Average (SMA) to identify momentum shifts. A common signal occurs when the price breaks a trendline while the RSI simultaneously crosses its MA.
• ADX Analysis: The ADX line helps determine the strength of the current trend. Values above 25 typically indicate a strong trending environment, helping traders avoid sideways markets.
• ATR Data: The Average True Range (ATR) is displayed in the data table to assist in calculating stop-loss levels and daily profit targets based on current market volatility.
• Overbought/Oversold Levels: Standard RSI levels (70/30) and a median zone (45/55) are provided to identify potential reversal points.

Details

This script combines multiple technical analysis concepts into a single oscillator pane to maximize screen real estate and data correlation.

• RSI: Calculated using the standard relative strength formula over a user-defined length.
• ADX: Built using directional movement calculations (Plus/Minus DM) and smoothed using the Wilder's RMA method.
• Data Table: A dynamic table is pinned to the bottom-right of the chart, providing real-time numerical readouts of the RSI, ADX, and ATR values for quick reference.

Settings

• Source: The price data used for the RSI calculation (default is Close).
• RSI Length: The lookback period for the RSI oscillator.
• CMF Length: The period used for the internal Chaikin Money Flow calculations.
• Show ADX: Toggle to enable or disable the visibility of the ADX line.
• ADX Smoothing: The period used to smooth the ADX line.
• DI Length: The period used for calculating the Directional Indicators (+DI and -DI).
• Show RSI MA: Toggle to enable or disable the RSI Simple Moving Average.
• RSI SMA Length: The lookback period for the RSI's moving average.

FAQ

How do I use the ADX filter in this indicator?

You can enable the ADX line in the settings. Generally, an ADX value above 25 suggests a strong trend is present, while values below 20-25 indicate a weak or ranging market.

How can the ATR data help my trading?

The ATR value shown in the bottom-right table represents the average range of price movement over the last 14 bars. Traders often use a multiple of this value (e.g., 1.5x or 2x ATR) to set dynamic stop-losses that account for current volatility.

How do I access the RSI c/w ADX and ATR data?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.