I'm publishing this indicator just for study purposes, because the result is exactly the same as DMI without the smoothing factor. It is exactly the same as ADX Wilder from MT5. I was looking for the algorithm all over and it was a pain to find the right formula, meaning: one that would match with the built-in ones. After several study and comparison, I still...
Hey guys, sometimes you just want to plot an Indicator value from a higher Timeframe on your Chart. For most Indicators this is pretty straightforward however there is one Indicator that has been giving me quite a headache while trying to do this: The Average Directional Index . Anyway after going through almost 200 versions of this script I finally found a...
It is a normal Directional Movement Index, but instead of using lines for +DI and -DI it uses histogram and 4 colors. It also contains an horizontal line (default value @20) to indicate when a trend is confirmed or not.
Mashed together Chris Moody's ADX thing with his DMI thing. So you can see trend strength + direction green-ish = uptrend-ish//red-ish = downtrend-ish Colors can be adjusted though. below 10 = gray, not much going on 10 - 20 = light green/light red, could be the beginning o something 20 - 40 = bright green / bright red, something is going on above 40 = dark...
Average Directional Index is a way to determine trend strength (and whether there is a trend). One of the caveats is when you have trendless conditions on a higher timeframe. You can get whipsaw conditions on the current timeframe in that case. The purpose of this script is to put ADX into the context of a higher degree trend on a single indicator.
DMI Stochastic Extreme - Version 2 - Replaced B with , Replaced S with - Ability to change Overbought and Oversold Levels - Clean PineScript List of All my Indicators - www.tradingview.com
USed the DMI Oscillator created by LARK "https://www.tradingview.com/v/T79b6F5n/" to create this DMI Stochastic Extreme. You can also use the DMI Stochastic by Lark Updated Version -
Combining DMI And Moving Average For A EUR/USD Trading System, by Rombout Kerstens The related article is copyrighted material from Stocks & Commodities Aug 2009
There is a nice writeup about a system that uses DMISTO here, which includes decent statistics: traderedge.net I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar...
A modified DMI, This turns the standard DMI into an Oscillator. The DMI cross signal is the same, but as an OSC you get the added benefits or finding divergences, etc. The added WIlder's Average Line (blue) can help you see if a short term trend is getting less interesting.
An open source version of the DMI. Mostly published for other scripters to modify. Typical useage: www.investopedia.com
This indicator plots Dynamic Momentum Index indicator. The Dynamic Momentum Index (DMI) was developed by Tushar Chande and Stanley Kroll. The indicator is covered in detail in their book The New Technical Trader. The DMI is identical to Welles Wilder`s Relative Strength Index except the number of periods is variable rather than fixed. The...