Script for an increasing or decreasing ADX indicator.

[Thepremier]

Hey guys and gals. I would like my ADX indicator to change colors if it's increasing or decreasing. If the value increases from bar to bar, I would like to see it as green. If the value decreases, I would like to see it red. If the value doesn't change, which isn't often, it would be white. In my trading I would like to know when the trend is possibly ending. Its should be able to be used on all timeframes. Can anyone put this together? I think it would be beneficial to all day traders! Thanks everyone!

 

[JamesB]

declare lower;

input lengthX = 14;
input averageType = AverageType.Wilders;

def hiDiff = high - high[1];
def loDiff = low[1] - low;

def plusDM = if hiDiff > loDiff and hiDiff > 0 then hiDiff else 0;
def minusDM = if loDiff > hiDiff and loDiff > 0 then loDiff else 0;

def ATR = MovingAverage(averageType, TrueRange(high, close, low), lengthX);
def "DI+" = 100 * MovingAverage(averageType, plusDM, lengthX) / ATR;
def "DI-" = 100 * MovingAverage(averageType, minusDM, lengthX) / ATR;

def DX = if ("DI+" + "DI-" > 0) then 100 * AbsValue("DI+" - "DI-") / ("DI+" + "DI-") else 0;
plot ADX = MovingAverage(averageType, DX, lengthX);


ADX.SetDefaultColor(Color.Plum);
ADX.DefineColor("Up", Color.Green);
ADX.DefineColor("Down", Color.Red);
ADX.AssignValueColor(if ADX > ADX[1] then ADX.color("Up") else ADX.color("Down"));
ADX.SetLineWeight(3);