Multi ADX + DI

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This custom indicator combines the Average Directional Index (ADX) and Directional Indicators (DI+ and DI–) on multiple timeframes to help you spot potential buy and sell opportunities. Essentially, it checks the market’s momentum and whether bulls (DI+) or bears (DI–) have the upper hand, then displays color-coded signals on the chart. It also includes a built-in volume filter (using a smoothed RSI of volume) to help ensure signals appear only when there’s enough trading activity.

How to Use

Add to Your Chart

Select Timeframes

Choose up to three different timeframes (e.g., 5 min, 30 min, 4 hr) in the indicator settings. The script will calculate ADX and DI on each timeframe, so you can see how momentum behaves across different periods.
Look for Buy and Sell Signals

Buy Signals appear when the ADX and DI+ conditions across timeframes indicate bullish momentum, and volume meets certain thresholds. Bars turn aqua if a buy signal is triggered.
Sell Signals appear when the ADX and DI– conditions across timeframes indicate bearish momentum, and volume meets certain thresholds. Bars turn maroon if a sell signal is triggered.
Observe Bar Colors

Green bars suggest overall bullish conditions.
Red bars suggest overall bearish conditions.
Gray bars mean the indicator doesn’t see a clear bullish or bearish signal at the moment.
Look for Circles

A small circle appears on the chart when a new buy or sell signal occurs without having triggered another signal recently (helpful for spotting fresh opportunities).
Use this indicator as a guide alongside your other analysis. It’s most effective when combined with a thorough understanding of support/resistance levels, trends, and risk management strategies.

Additional Instructions on Inputs
Below is a simple breakdown of what each input does and how you can adjust them for your own trading style:

Timeframe Combination (tf1, tf2, tf3)

These let you pick up to three timeframes for calculating the ADX and DI values. For example, you might choose 5 minutes, 30 minutes, and 4 hours.
Adjusting these timeframes can help you see momentum trends over both short and longer periods. It’s often beneficial to use a smaller timeframe (like 5 or 15 minutes) alongside a mid-range (like 30 minutes or 1 hour) and a higher timeframe (like 4 hours or 1 day) to get a broader market perspective.
ADX Length (adxLen)

Controls how the Average Directional Index is calculated. A larger value (for instance, 14) smooths out results but responds more slowly to rapid price changes. A smaller value (like 8) reacts faster but can be more sensitive to short-lived fluctuations.
DI Length (diLen)

Similar to ADX Length, but specifically for the DI calculations (DI+ and DI–). Increasing this value may reduce signal noise, while decreasing it can generate quicker signals but potentially more false positives.
Volume*Price RSI Length (rsiLen)

Sets the length of the RSI used to measure “Volume * Price.” The RSI aims to show when the market might be “overbought” or “oversold.” Here, it’s used primarily as a volume filter to ensure trades happen in active market conditions.
How to Tweak

If you find the indicator too “choppy,” try increasing the ADX and DI lengths to make the signals smoother.
If you’re missing opportunities or if the indicator responds too slowly, shorten the lengths.
Experiment with different timeframe combinations to find the balance that makes sense for your specific trading strategy and risk tolerance.
These inputs allow you to tailor the indicator’s sensitivity and the breadth of market data it examines. Start with the default values, then make small adjustments as you track the outcomes on your favorite assets.