Trend Strength Oscillator [Lysergik]
The Trend Strength Oscillator is a clever combination of some of the most common and useful indicators. Combining the:
- Directional Movement Index (DMI)
- Average Directional Index (ADX)
- Volume (optional)
In doing so, we get a much easier to appreciate indication of both trend direction and strength at a glance that is reliable on every timeframe!
The ADX is not only part of the resulting value but also affects how bright the colors appear on the indicator. Brighter being a stronger trend direction than lighter color.
Moreover, we can quickly see if a trend is strengthening or weakening by seeing if the indication is colored aqua/yellow or white, respectively.
In the above chart you can see the volume indicator, DMI, ADX, with the TSO (Trend Strength Oscillator) on the bottom for context and to show just how much more intuitive the TSO is.
- Directional Movement Index (DMI)
- Average Directional Index (ADX)
- Volume (optional)
In doing so, we get a much easier to appreciate indication of both trend direction and strength at a glance that is reliable on every timeframe!
The ADX is not only part of the resulting value but also affects how bright the colors appear on the indicator. Brighter being a stronger trend direction than lighter color.
Moreover, we can quickly see if a trend is strengthening or weakening by seeing if the indication is colored aqua/yellow or white, respectively.
In the above chart you can see the volume indicator, DMI, ADX, with the TSO (Trend Strength Oscillator) on the bottom for context and to show just how much more intuitive the TSO is.