ADX extractor
Picks one of the ADX indicator's three readings: trend strength, or the up or down direction line.
This indicator computes nothing itself. It reads the three values an ADX indicator returns and draws the one its index picks: 0 for ADX (trend strength), 1 for +DI, 2 for -DI. ADX runs 0 to 100 and measures how strong a trend is, not which way it runs; the DI lines carry direction. If its input is not a three-value tuple, it passes that input through unchanged.
How to read it
- Drawn in its own pane below the price, on a 0 to 100 scale.
- At index 0, a rising line means a strengthening trend, whichever way price moves.
- At index 1 (+DI) and 2 (-DI), +DI above -DI leans up and -DI above +DI leans down.
- Each instance draws one value, so comparing the two DI lines takes two instances on the same ADX indicator.
- A line that tracks the price itself means the input was not an ADX indicator, so the pass-through is active.
What it outputs
- Selected ADX value
- The value the index picks from the ADX indicator: trend strength at 0, +DI at 1, -DI at 2. Each runs on a 0 to 100 scale.
Settings
- index
- Picks the ADX value drawn: 0 trend strength, 1 +DI, 2 -DI. Moving it changes which line shows, not its scale. Values outside -3 to 2 match nothing in the three-value result and raise an error, though the field accepts up to 1000.
Pitfalls
- Fed a plain price series, it returns the price unchanged with no error: on the SPY probe the output matched the close to the cent.
- ADX measures trend strength, not direction: a high ADX during a sharp fall is still a strong trend. Read direction from the DI lines.
- The field accepts -1000 to 1000, but only -3 to 2 index the three-value result, so other values raise an error when the indicator runs.