ADX Trend label for ThinkorSwim

[cabe1332]

Just updated the code with params that work for my style. You can play around with the input to work best for you. Good luck! @cabe1332

ADX has worked well with me and made $ today. Trend is my friend and ADX sure allows you to ride them longer. Sharing a watchlist column that may help you with your trading. Enjoy and let me know how it works for you. Good luck! @cabe1332

# ADX Dynamic Watchlist Column
# cabe1332

# code start
input ADXLength = 6;
input ADXLower = 25;
input ADXMid = 40;
input ADXHigh = 75;
#input MALength = 10;
input MALength = 9;

def ADXlabel = reference ADX(ADXLength).ADX;
def MA = reference movAvgExponential(close,MALength);

plot data = round(ADXlabel,1);
data.assignValueColor(if data >= 20 then color.blue else color.red);

AssignBackgroundColor(
if ADXlabel < ADXLower then Color.CYAN else
if ADXlabel < ADXMid then Color.RED else
if (ADXlabel < ADXlabel[1]) then Color.YELLOW else
if ADXlabel > ADXlabel[1] and MA > MA[1] and ADXlabel < ADXHigh then Color.GREEN else
if ADXlabel > ADXlabel[1] and MA < MA[1] then Color.RED else
if ADXlabel > ADXHigh then Color.MAGENTA else Color.light_gray);

# code end

 

[mbarcala]

ADX has worked well with me and made $ today. Trend is my friend and ADX sure allows you to ride them longer. Sharing a watchlist column that may help you with your trading. Enjoy and let me know how it works for you. Good luck! @cabe1332

# ADX Dynamic Watchlist Column
# cabe1332

# code start
input ADXLength = 6;
input ADXLower = 25;
input ADXMid = 40;
input ADXHigh = 75;
#input MALength = 10;
input MALength = 9;

def ADXlabel = reference ADX(ADXLength).ADX;
def MA = reference movAvgExponential(close,MALength);

plot data = round(ADXlabel,1);
data.assignValueColor(if data >= 20 then color.blue else color.red);

AssignBackgroundColor(if ADXlabel < ADXLower then Color.CYAN else if ADXlabel < ADXMid then Color.RED else if (ADXlabel < ADXlabel[1]) then Color.YELLOW else if ADXlabel > ADXlabel[1] and MA > MA[1] and ADXlabel < ADXHigh then Color.GREEN else if ADXlabel > ADXlabel[1] and MA < MA[1] then Color.RED else if ADXlabel > ADXHigh then Color.MAGENTA else Color.light_gray);

# code end

Hi cabe1332, can you share a copy of the SQZFired?

 

[cabe1332]

Hi cabe1332, can you share a copy of the SQZFired?

@mbarcala here you go. I also have it as a column or combination with an existing columns as a background. You add sound alerts if you want. Works on all timeframe.

Good luck and good trading! @cabe1332

#This will fire an alert when a stock is about to release pressure
#from squeeze. Dot change from Red to Green or Orange or Yellow or Black
#Momentum explodes afterward.
#cabe1332

def S = reference TTM_Squeeze().SqueezeAlert;
def H = reference TTM_Squeeze().Histogram;

plot Arrow = !S[1] and S and H > 0 and H > H[1];
Arrow.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Up);
Arrow.SetLineWeight(2);
Arrow.SetDefaultColor(color.yellow);

 

[majidg]

@mbarcala here you go. I also have it as a column or combination with an existing columns as a background. You add sound alerts if you want. Works on all timeframe.

Good luck and good trading! @cabe1332

#This will fire an alert when a stock is about to release pressure
#from squeeze. Dot change from Red to Green or Orange or Yellow or Black
#Momentum explodes afterward.
#cabe1332

def S = reference TTM_Squeeze().SqueezeAlert;
def H = reference TTM_Squeeze().Histogram;

plot Arrow = !S[1] and S and H > 0 and H > H[1];
Arrow.SetPaintingStrategy(PaintingStrategy.Boolean_Arrow_Up);
Arrow.SetLineWeight(2);
Arrow.SetDefaultColor(color.yellow);

how do you write the code for squeeze pressure increasing? Thanks

 

[Zlotko]

Hello All, I am allowed to make this post very much because of the members here. I studied many of the posts dealing with labels. My immense gratitude to anyone that used labels in their scripts. A special shout-out to @markos for his RGB color labels. I referred to that over a dozen times when working on the various labels that I created for my studies. My system is quite simple. As I hinted to in other posts, I trade NQs. My first step, as many do, is to review the daily chart for an overview. I then rely on the 15 minute charts for the general trend. Then the 5 minute chart for the setup. Finally the 1 minute for the trigger. The 5 minute is really the most important chart I use, and this label script is used on there and the settings reflect how I use it. I have found that most powerful trends begin with the ADX (5) on the 5 minutes chart below 25. Also, many trends reverse with it over 70. I use the Hull MA in combination to identify a trend. I hope that you can use it or modify it for your own purposes.

##### Begin Code #####

# SD_ADXLabel
# Scott XXX
# Version: 01
# Original: November 17, 2020
# Last Mod: November 18, 2020

declare upper;

input ADXLength = 5;
input ADXLower = 25;
input ADXMid = 40;
input ADXHigh = 70;
input MALength = 10;

def ADXlabel = reference ADX(ADXLength).ADX;
def MA = reference HullMovingAvg(close,MALength);

AddLabel(yes, "                     ADX SETTING UP                     ", if ADXlabel < ADXLower then Color.CYAN else Color.BLACK);

AddLabel(yes, " ADX WATCH ", if ADXlabel < ADXMid then Color.WHITE else Color.BLACK);

AddLabel(yes, " ADX TREND WEAKENING ", if (ADXlabel < ADXlabel[1]) then Color.YELLOW else Color.BLACK);

AddLabel(yes, "           UP TREND           ", if ADXlabel > ADXlabel[1] and MA > MA[1] then Color.GREEN else Color.BLACK);

AddLabel(yes, "           DOWN TREND           ", if ADXlabel > ADXlabel[1] and MA < MA[1] then Color.RED else Color.BLACK);

AddLabel(yes, " ADX HIGH ", if ADXlabel > ADXHigh then Color.MAGENTA else Color.BLACK);

##### End Code #####

Could you elaborate on your system?

 

[MerryDay]

Could you elaborate on your system?

Here is what the @scott69 said:

1. My first step, as many do, is to review the daily chart for an overview.
2. I then rely on the 15 minute charts for the general trend.
3. Look to the enclosed script on the 5 minute chart for the setup.
4. Finally the 1 minute for the trigger.

The 5 minute is really the most important chart I use, and this label script is used on there and the settings reflect how I use it.

I have found that most powerful trends begin with the ADX (5) on the 5 minutes chart below 25.

Also, many trends reverse with it over 70. I use the Hull MA in combination to identify a trend. I hope that you can use it or modify it for your own purposes.

 

[ma3245]

ADX has worked well with me and made $ today. Trend is my friend and ADX sure allows you to ride them longer. Sharing a watchlist column that may help you with your trading. Enjoy and let me know how it works for you. Good luck! @cabe1332

# ADX Dynamic Watchlist Column
# cabe1332

# code start
input ADXLength = 6;
input ADXLower = 25;
input ADXMid = 40;
input ADXHigh = 75;
#input MALength = 10;
input MALength = 9;

def ADXlabel = reference ADX(ADXLength).ADX;
def MA = reference movAvgExponential(close,MALength);

plot data = round(ADXlabel,1);
data.assignValueColor(if data >= 20 then color.blue else color.red);

AssignBackgroundColor(if ADXlabel < ADXLower then Color.CYAN else if ADXlabel < ADXMid then Color.RED else if (ADXlabel < ADXlabel[1]) then Color.YELLOW else if ADXlabel > ADXlabel[1] and MA > MA[1] and ADXlabel < ADXHigh then Color.GREEN else if ADXlabel > ADXlabel[1] and MA < MA[1] then Color.RED else if ADXlabel > ADXHigh then Color.MAGENTA else Color.light_gray);

# code end

Hi, Can you please explain the colors please?

 

[MerryDay]

Hi, Can you please explain the colors please?

Your question is:
How to read this portion of the script

AssignBackgroundColor(
if ADXlabel < ADXLower then Color.CYAN else
if ADXlabel < ADXMid then Color.RED else
if (ADXlabel < ADXlabel[1]) then Color.YELLOW else
if ADXlabel > ADXlabel[1] and MA > MA[1] and ADXlabel < ADXHigh then Color.GREEN else
if ADXlabel > ADXlabel[1] and MA < MA[1] then Color.RED else
if ADXlabel > ADXHigh then Color.MAGENTA else Color.light_gray);

Translation:
if ADX is less than the threshold of 25 Color =CYAN else
if ADX>25 and <40 Color=RED else
if ADX is neither of the above and ADX trending downwards Color=YELLOW
if ADX is none of the above
and ADX trending upwards
and EMA9 trending upwards
and ADX is less than the ceiling of 75 Color =GREEN else
if ADX is downtrending and EMA9 is downtrending Color =RED
if ADX is greater than the ceiling of 75 Color =MAGENTA else Color =light_gray

The question as to why we use these thresholds and ceilings is beyond the scope of this thread.
Anyone considering using the ADX on their charts would be advised to research the pros and cons of the ADX.
It is the definitive trend direction indicator, but it is not without its weaknesses.