ADX Histogram

[Phil]

First time posting a question in this forum but I've been browsing useThinkScript for years. It's been interesting to say the least and many times way over my head.

I use TOS Renko charts for daily Forex scalping. TOS is more of a family member to me than a platform. I've modified a few built in scripts and what not but I'm mainly clueless when coding. I'm proud of myself to know how to plot a line or create an alert for an indicator that wasn't there but desperately needed. I most like being able to change code for one indicator and it changes it for all my open charts that are using that indicator. Very useful.

I have a good basic strategy that includes ADX on Renko charts. Here is my question.

I use ADX as a histogram. I had no problem creating an alert when ADX went over a certain number. What I would like to be able to do is create an alert when the next histogram bar is of greater value than the one before it. Maybe even be able to give that bar a different color.

A guy on Tradingview has this called "ADX with color like MACD Histogram". Does anyone know of a ThinkScript version of this ADX, or can easily pinpoint the code I would need to modify my existing ADX to accomplish this. Does anyone here already have this modified ADX or sees a need for this type of alert?

Being a first time poster with a question, I don't expect everyone to jump on this and fix my problem. Just thought I would give it a shot and see what happens. Thanks very much.

Phil

 

[ApeX Predator]

First time posting a question in this forum but I've been browsing useThinkScript for years. It's been interesting to say the least and many times way over my head.

Why don't you post the script, what you got, and do a mockup of what you are looking for? that makes life easy for anybody looking to provide a solution.

 

[Phil]

So I kept goofing with it until I figured it out.

Months ago I modified an ADX indicator that I found in this group. I just liked that it had different colored bars for increasing levels of ADX. I added an alert to it and have been using it for a long time. Now I modified it to show lower or higher ADX bars after the "trend" level.

Blue under "notrend"
Orange between "notrend" and "trend"
Green over "trend" but red if the ADX bar is lower than the last, and of course green again if the ADX moves higher.

For me it's all about the quick visual. Glad I figured this out because I've been wanting it for a long time.

I realize that this is super simple thinkscript but it's new to me so....

Hope this is useful to someone other than myself and if it's already out there somewhere, my apologies.

declare lower;

input length = 6;
input averageType = AverageType.WILDERS;

def endTrend = 60;
def noTrend =25;
def Trend =30;
def Alertsound =30;

plot ADX = DMI(length, averageType).ADX;
ADX.setDefaultColor(GetColor(5));

ADX.AssignValueColor(if ADX < noTrend then
                       Color.BLUE
                    else
                       if ADX > Trend and ADX > ADX[1] then
                          Color.green
                    else
                       if ADX > Trend and ADX < ADX[1] then
                          Color.red
                    else
                          Color.dark_orange
                    );

ADX.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

plot upbound = endTrend;
plot lobound = noTrend;
plot midbound = Trend;

def Above = adx crosses above alertsound;

#Trigger alerts
Alert(Above[1], "ADX_Above_30", Alert.BAR, Sound.chimes);

 

[mashume]

you can reference the Above series in your code for earlier bars, much as you do for the Alert:

Alert(Above[2] AND adx > adx[1], "ADX Continuing up", alert.bar, sound.chimes);

adding colouration to the script would just mean adding another else to your chain of if/else conditions. I think.

I apologize for not taking the time to flesh this out more than here in the text editor. If you still haven't figured it out, don't hesitate to come back and tell me my code didn't work. It may and it may not. ;-)

-mashume

 

[Phil]

Wow. Thanks so much man. I will give this a try and see what happens.