ADX (levels)

אתמול

This Pine Script indicator calculates and displays the Average Directional Index (ADX) along with the DI+ and DI- lines to help identify the strength and direction of a trend. The script is designed for Pine Script v6 and includes customizable settings for a more tailored analysis.

Features:
ADX Calculation:

The ADX measures the strength of a trend without indicating its direction.
It uses a smoothing method for more reliable trend strength detection.
DI+ and DI- Lines (Optional):

The DI+ (Directional Index Plus) and DI- (Directional Index Minus) help determine the direction of the trend:
DI+ indicates upward movement.
DI- indicates downward movement.
These lines are disabled by default but can be enabled via input settings.
Customizable Threshold:

A horizontal line (hline) is plotted at a user-defined threshold level (default: 20) to highlight significant ADX values that indicate a strong trend.
Slope Analysis:

The slope of the ADX is analyzed to classify the trend into:
Strong Trend: Slope is higher than a defined "medium" threshold.
Moderate Trend: Slope falls between "weak" and "medium" thresholds.
Weak Trend: Slope is positive but below the "weak" threshold.
A background color changes dynamically to reflect the strength of the trend:
Green (light or dark) indicates trend strength levels.
Custom Colors:

ADX color is customizable (default: pink #e91e63).
Background colors for trend strength can also be adjusted.
Independent Plot Window:

The indicator is displayed in a separate window below the price chart, making it easier to analyze trend strength without cluttering the main price chart.
Parameters:
ADX Period: Defines the lookback period for calculating the ADX (default: 14).
Threshold (hline): A horizontal line value to differentiate strong trends (default: 20).
Slope Thresholds: Adjustable thresholds for weak, moderate, and strong trend slopes.
Enable DI+ and DI-: Boolean options to display or hide the DI+ and DI- lines.
Colors: Customizable colors for ADX, background gradients, and other elements.
How to Use:
Identify Trend Strength:
Use the ADX value to determine the strength of a trend:
Below 20: Weak trend.
Above 20: Strong trend.
Analyze Trend Direction:
Enable DI+ and DI- to check whether the trend is upward (DI+ > DI-) or downward (DI- > DI+).
Dynamic Slope Detection:
Use the background color as a quick visual cue to assess trend strength changes.
This indicator is ideal for traders who want to measure trend strength and direction dynamically while maintaining a clean and organized chart layout.