Indicator better than ADX to determine current trend?

[kelvin]

Hi Everyone,

So happy to find this place to learn how to survive in stock market, I am a totally newbie, please forgive me if I ask some silly questions.

I found the ADX is way too lagging to determine entry of a Trend which is strong enough or not, any better Indicators than ADX can do this job?

Thanks

 

[horserider]

Try ADX length = 1 DI length =9

 

[markos]

@kelvin Please give the time frames you look at and the type of stock you trade.
This will help the community help you better. Thanks

 

[horserider]

@kelvin Try this one. Then th ADX = 1 will make sense.
https://tos.mx/yMshDsp

 

[kelvin]

Usually I prefer using 1min and 5 min frames, Today I bot DDOG at 39.8, I like those small cap stocks.
I used the Script study you post, changed into ADX=1, DI=9, looks nice, thank you

 

[horserider]

Welcome. Glad it may help. Please feel free to share your methods of finding and trading small caps

 

[Branch]

Why don't you just use the RSI?

 

[J007RMC]

I came across this upper ADX study that adds boxes to show trend strength, trend decay value it uses the 20ema.

 

[Tostechnical]

@J007RMC could you share this upper study? Seems interesting.

 

[J007RMC]

this is the chart Im currently using
https://tos.mx/RtqvbHQ

 

[Tostechnical]

thanks

 

[DudeDastic]

@kelvin Try this one. Then th ADX = 1 will make sense.
https://tos.mx/yMshDsp

Nice indicator. The one tiny problem I see is that it doesn't tell you the direction of the trend. Is there some way to color the cloud to denote trend direction? For instance, if DI- crosses above DI+ and ADX rises above 25, the cloud can be a shade of red or something.

Update:
I just tried flexing my meager thinkscript skills by coding it myself. Looks pretty good to me although a better coder can make it look better. Here's what I did:

def upTrend = ADX > 25 && "DI+" > "DI-"; # new
def dnTrend = ADX > 25 && "DI-" > "DI+"; # new
ADX.AssignValueColor(if upTrend then ADX.Color("Stronger") else if dnTrend then ADX.Color("Weaker") else Color.LIGHT_GRAY); # modified