Advanced ADX Indicator VertexFX

#1
Hello,

I have converted the Advanced ADX Indicator to VertexFX client side VTL Script.

Advanced ADX Indicator is a VTL client side script that provides better visual representation on ADX indicator. In traditional ADX Indicator, ADX indicates the trend strength and plus directional index (+DI) and minus directional index (-DI) determines the trend direction.

When plus +DI is above -DI, trend direction is up and when -DI is above +DI, trend direction is down. The bottom pane in chart is normal ADX indicator. The dotted lines represent +DI and -DI and continuous green line represents ADX.

Advanced ADX indicator is plotted in the middle pane. ADX values are plotted as a histogram. When trend direction is up (+DI above -DI), the histogram color is green and when trend direction is down (-DI above +DI), histogram color is red. Thus green histogram represents up trend and red histogram represents down trend and trend strength is indicated by the histogram height. This provides an easy visualization and interpretation of ADX.

ADX period can be customized with the parameter "ADXPeriod" in VTL script. Default value is 14 but users can change it to arrive at better period values.

 

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