today I would like to share an indicator that I had in my mind for quite some time. I call it ADX Boxes.
How does it work?
What the indicator does is very simple. Whenever the ADX falls below a certain threshold (which can be managed in the user input settings) a box will appear. The box will continue to grow as long as the ADX stays below the threshold. Once the ADX goes back above the threshold, the box will stop growing and will set its right border.
There are two modes, which can be used to determine the upper and lower border of the box. The first one is called "Extremes", which plots the borders the highest high and lowest low for the range below the threshold. The second one is called "Avg. High/Low", which plots the borders at the average high and average low within the range. Furthermore, the indicator contains an option to show the average value of the detected range below the ADX threshold.
Just like all my other indicator scripts, this one comes with different styling options for boxes in progress, settled boxes and the average value.
Hopefully, some of you find it useful.
Make sure you leave a follow and a like :)
Happy trading!!
Sürüm Notları
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Added the option "Show Box?" to turn on and off the box visualization. Turning the box off enables the indicator to plot more mid-lines in history, which turned out to be very useful when projected into the future.
Sürüm Notları
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Added an option to extend the mid line.
Sürüm Notları
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Fixed "Pine cannot determine the referencing length of a series."-error and updated header.
Hi, if I well understood this indicator could give a hint when the market is going horizontal? Correct
Red_Ben
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A hidden gem! I've found some fascinating patterns of market behavior by observing if A)price closes candles beyond the ADX box and B) how previous midlines act as magnets during excursions back into the box price ranges. Inability to close beyond previous midlines often return to opposite side of the box that created the midline. Really valuable indicator! Thanks for your work!
volkancetin
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good work paaax.Box given the point of control area (the point at which the daily market makers enter the position).thank you for sharing.
UnknownUnicorn2352460
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Your work is admirable. This is a case of deep analysis and excellent results! Thanks! Waiting for other works!
mustafacelik84
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thanks paax very good
AltJams
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That midline extension update is super slick, dude. Excellent work and thanks for sharing OS.
paaax
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@wroclai, thank you. If you have other ideas how to improve it let me know.
GANAPATAYNAMO
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Thanks Sir. One of your Gems, fully agreed.
MROXIC
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This indicator is genius thank you for all of your hard work