The indicator is based on the classic ADX. The main objective was to give it the appearance of a classical oscillator. Now the trend weakening signal is the appearance of yellow column of the histogram. Their appearance above the zero line indicates a weakening of the uptrend. Respectively, the appearance below the zero line indicates a weakening of the downtrend. The strengthening of the signal - blue columns. With all the advantages of the basic version, this solution facilitates its interpretation, it allows us to identify the divergence (solid lines), convergence (dotted lines) and to get the trend change signals (crossing the zero line). According to the observations if the line of convergence (inverse divergence) is continued, it becomes a support-resistance line. This feature is built into this indicator rayReverseDivergence=true. Otherwise, all the main rules for working with the ADX are applicable to this tool.
Just like in the ADX, the indicator window has a red –DI line, a green +DI line and the main line of the indicator as a histogram or a yellow and blue line.
- ADXPeriod – ADX period
- Type - type of the main line of ADX. LINE or HISTOGRAM
- drawIndicatorTrendLines – draw a divergence in the indicator window
- rawPriceTrendLines – draw a divergence in the quotes window
- ayReverseDivergence – reverse divergence as a ray
- LineWidth – width of the ray line
- displayAlert - disable Alert on divergence formation