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ADX Color Script

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Published: 15 December 2023

Current version: 2.3

ADX Color Script

Utilities
Adrian Hernandez Castellanos
Version: 2.3
Updated: 29 February 2024

Script (drag and drop) that colors the background of the Average Directional Movement Index (ADX) indicator according to the buy or sell trend

The Average Directional Movement Index (ADX) indicator is a technical indicator used to measure the strength of a trend. This script (drag and drop) colors the background of the ADX indicator according to the trend. The background color is determined by the script parameters.

Parameters that can be modified:

Period: The time period of the ADX indicator.
Trend level: The minimum level to meet to filter if the trend is bullish or bearish (0 by default).
Apply To: (Close price, Open price, High price, Low price, Median price, Typical price, Weighted price).
Color Positive Trend: The background color for a bullish trend.
Color Negative Trend: The background color for a bearish trend.
Color Neutral Trend: The background color for a neutral trend.
Save variables: Saves the current values for reuse later.
Clean graph: Clears the colors from the graph (Clean colors).

How to use the script:

To use the script, simply drag and drop the indicator onto the chart. Depending on where you drop the indicator on the chart, you will get the result to obtain. From coloring the indicator, to coloring the entire chart. (See screenshots)

Conclusion:

This script is a useful tool for market analysts who use the ADX indicator. The script makes it easy to identify bullish, bearish, and neutral trends.

Coffee? Of course, I'll have a coffee. In return, I'll offer you the indicator version of this script, so that you can also take something as a gift :-). https://www.mql5.com/en/market/product/109892

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MACD Indicator with color background based on buy or sell trend This indicator colors the background based on the value of the MACD (Moving Average Convergence Divergence) indicator, depending on its buying or selling tendency. The background color is determined based on the stochastic oscillator parameters, painting only the last 400 bars (see notes) and is used to measure the strength of a trend and the probability of a reversal. The parameters you can modify are the same as those prov

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Trendline Breakout Alert Description: This indicator triggers an alarm (sound, alert or notification) when the price breaks a trendline, either above or below it. Parameters: Names of the trendlines. : Comma-separated names of the trendlines (Make sure your trendline name does not have spaces at the beginning and is exact). Value over/under the line (E.g.: 0.03% or 500 pips). : Value that defines a margin above/below the trendline before triggering the alarm, can be given in percentage or pips,

44.09 USD

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Version 2.3 2024.02.29

Leap year patch.

Version 2.2 2024.02.23

Advanced mode improvements

Version 2.1 2024.02.22

The advanced mode was added, in beta phase, this mode reports the entry and exit points of the market. This mode will be available as long as it is useful to you. I wait for your comments...

Version 1.9 2023.12.23

Changes:

- Fixed a problem with the CommonLib library that affected all published color scripts.
- Added input parameter validation to prevent problems with bad input data.
- Fixed saved parameter validation.
- Optimized the code to be compatible with the real-time indicator https://www.mql5.com/en/market/product/109892.
- Fixed the size of the backgrounds to make them faster to draw.
- Added an output message to indicate the reason why the script ended early.
- Removed redundant code lines that calculated both the indicator value and the element position.
- Optimized the code to reduce CPU clock cycles and improve performance.