ADX Color

This indicator is different from the conventional indicator by an additional set of parameters. The ADX line changes color depending on the location of the +DI and -DI lines relative to each other.

Indicator Inputs

• Period — indicator calculation period;
• Method — select the averaging method: simple, exponential, smoothed, linear-weighted;
• Apply to — select the applied price: Close, Open; High; Low; Median; Typical; Average Weighted;

By default, the directional lines are colored in the following colors:

• Dark green — value of the indicator of the positive price movement (+DI - positive directional index);
• Brown — value of the indicator of the negative price movement (-DI - negative directional index).

The Average Directional Movement Index (ADX) line is colored:

• Yellow — no trend;
• Light green — buy signal, the +DI line is above -DI with growing ADX;
• Red — sell signal, the -DI line is above +DI with growing ADX.