Just a simple label telling if ADX is below 20 or above 30.
https://tos.mx/6ojWoS
Code:
input length = 14;
input averageType = AverageType.WILDERS;
#input Label_Color_Choice = {default "gray", "white"};
def ADX = DMI(length, averageType).ADX;
AddLabel (ADX > 30, "ADX > 30 ... TREND-directional strategy",
(color.GRAY));
#GetColor(Label_Color_Choice));
AddLabel(ADX < 20, "ADX < 20 ... CHOP-range bound strategy", #GetColor(Label_Color_Choice));
(color.GRAY));
https://tos.mx/6ojWoS