Inputs – How it Works: The Directional Oscillator uses an indexed ADX to measure trend strength and represents it visually through the height of the oscillator and the colour, the length of the oscillator indicators the duration of trend.

How to Apply: Select “Directional Oscillator Plus [Market Spotter]” under the “Invite-only scripts” on TradingView.

Characteristics:
Green represents an up trend and the height of the oscillator indicates the trend strength.
White represents a down trend and the height of the oscillator indicates the trend strength.

The signal line is Moving Average of the Directional ADX, consisting of a period of 34, which also includes colours that further support strength of trend.
Yellow (Weak): ADX values between 25 and 50. Indicates a moderate or unclear trend.
Green (Strong): ADX values between 50 and 75. Suggests a solid, favorable trend.
Red (Very Strong): ADX values between 75 and 100. Highlights a powerful trend, though potentially overextended.

Usage: By visually representing trend strength with color changes, the Directional Oscillator Plus provides traders with a clear, intuitive way to gauge market conditions, making it a valuable tool for technical analysis.

Alerts: TradingView alerts notify traders of specific market conditions or price movements in real time. Users can configure them based on parameters such as price levels or technical indicators. These alerts help traders stay informed and make timely decisions to optimize their trading strategies. A tutorial on setting alerts with our indicators is available for further guidance.