OPEN-SOURCE SCRIPT
Обновлено DMI Histogram Indicator
The Directional Movement Index (DMI) was originally developed by J. Welles Wilder Jr. in 1978. Wilder introduced the DMI along with the Average Directional Index (ADX) in his book, “New Concepts in Technical Trading Systems,” which became a foundational reference for technical analysis.
The indicator can be a bit intimidating for people to interpret if they aren't familiar with it. So this DMI Histogram uses the underlying DMI data to present a different way to visualize the price movement and trend. The goal is to help provide insight into the rising or falling momentum behind the price, at times when the chart itself may not be as obvious. This could potentially help spot a momentum divergence before it plays out on the chart.
The user has the option of displaying ADX reversals as red and green arrows. The ADX is the trend indicator portion of the DMI. When it changes direction, that sometimes leads to shift in who is exerting the most influence on the price, buyers or sellers.
The user also has the option of coloring the candlesticks to match the histogram.
This indicator is meant to be combined with other indicators and other chart analysis tools.
The indicator can be a bit intimidating for people to interpret if they aren't familiar with it. So this DMI Histogram uses the underlying DMI data to present a different way to visualize the price movement and trend. The goal is to help provide insight into the rising or falling momentum behind the price, at times when the chart itself may not be as obvious. This could potentially help spot a momentum divergence before it plays out on the chart.
The user has the option of displaying ADX reversals as red and green arrows. The ADX is the trend indicator portion of the DMI. When it changes direction, that sometimes leads to shift in who is exerting the most influence on the price, buyers or sellers.
The user also has the option of coloring the candlesticks to match the histogram.
This indicator is meant to be combined with other indicators and other chart analysis tools.
Информация о релизе
Updates the script to include some useful alerts:ADX Bear Trend Reversal?
message = "Possible Bearish Reversal - ADX pivot downward while +DI > -DI"
ADX Bull Trend Reversal?
message = "Possible Bullish Reversal - ADX pivot downward while -DI > +DI"
ADX Cross Above +DI
message = "ADX crossed above +DI"
ADX Cross Above -DI
message="ADX crossed above -DI"
ADX Cross Above it's MA
message="Possible Trend Strengthening - ADX pivot upward"
Bullish DI Cross
message="+DI crossed above -DI (Possibly Bullish)"
Bearish DI Cross
message="+DI crossed below -DI (Possibly Bearish)"
Информация о релизе
This update of the DMI Histogram indicator introduces a strong ADX Reversal signal, as opposed to a weaker ADX reversal. The previous version used red and green triangles to show that the ADX (trend strength) had reversed. This version dims the brightness of the less significant ADX reversals, helping you to notice the stronger reversals. The +DI line (buying) and -DI line (selling) are also visible in this update. If you find that this makes the indicator too busy, simply uncheck their boxes in the Style pane. You will notice that the other components of the DMI can also be toggled in the Style menu, but many are turned off.
This update is most effective on assets that are strongly trending up or down, as opposed to ranging sideways.
Информация о релизе
This update replaces the chart because I forgot to do that last just now.Информация о релизе
A better version of the chart. Sorry for the noisy revisions, I just wanted to give you a clean chart with arrows calling out the change.Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
See my YouTube channel for videos explaining some of the strategies that I post.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
See my YouTube channel for videos explaining some of the strategies that I post.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.