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DMI

Dynamic Momentum Index (DMI) Backtest 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 variability of the time periods used in the DMI is controlled by the recent volatility of prices. The more volatile the prices, the more sensitive the DMI is to price changes. In other words, the DMI will use more time periods during quiet markets, and less during active markets. The maximum time periods the DMI can reach is 30 and the minimum is 3. This calculation method is similar to the Variable Moving Average, also developed by Tushar Chande. The advantage of using a variable length time period when calculating the RSI is that it overcomes the negative effects of smoothing, which often obscure short-term moves. The volatility index used in controlling the time periods in the DMI is based on a calculation using a five period standard deviation and a ten period average of the standard deviation. You can change long to short in the Input Settings WARNING: - For purpose educate only - This script to change bars colors.
Pine Script™ strategy
by HPotter
3
Dynamic Momentum Index (DMI) Strategy 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 variability of the time periods used in the DMI is controlled by the recent volatility of prices. The more volatile the prices, the more sensitive the DMI is to price changes. In other words, the DMI will use more time periods during quiet markets, and less during active markets. The maximum time periods the DMI can reach is 30 and the minimum is 3. This calculation method is similar to the Variable Moving Average, also developed by Tushar Chande. The advantage of using a variable length time period when calculating the RSI is that it overcomes the negative effects of smoothing, which often obscure short-term moves. The volatility index used in controlling the time periods in the DMI is based on a calculation using a five period standard deviation and a ten period average of the standard deviation. WARNING: - This script to change bars colors.
Pine Script™ indicator
by HPotter
Directional Movement Oscillator by KIVANÇ fr3762Directional Movement Oscillator is simply the difference of Di+ and Di- which helps traders to see the crosses of BUY/SELL signals more effectively. Di+ crosses above Di- when indicator crosses above 0 which can be considered as a BUY signal. and conversely Di+ crosses below Di- when indicator crosses below 0 which can be considered as a SELL signal. Additionally I put a second (OPTIONAL) line (Signal line) which is a 8 bar SMA ( Simple Moving Average ) of DMOSC to confirm signals for further assistance. Users can add the second optional line (Signal Line) by checking the box : Show SMA line? on the INPUTS section of the indicator SETTINGS menu.
Pine Script™ indicator
by KivancOzbilgic
11
Directional Movement Index ConfirmationThis indicator helps determine the exit point of a play. Lots of green candles making you money? Got one red candle and now you're worried if this is the top? Check this indicator! A red arrow helps confirm that bearish pressure is rising while bull pressure is declining, and this may be your chance to exit. Works the opposite way for short plays, giving a green candle to help confirm the bottom. This indicator was written to help educate members over at OptionsPlayers.com
Pine Script™ indicator
by Tracks
6
Dav-o meter (public)I decided to make this formerly invite only script public (you can find the invite only version here If you are part of the invite only you don't need to change scripts. I will push improvements first on the invite only script but in time it will come to this version as well. I would love to know your ideas and thoughts on how this indicator can be improved, so feel free to give any feedback. Remember to give it a thumbs up if you like it.
Pine Script™ indicator
by maqpie
31
[naoligo] Simple ADXI'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 didn't find the algorithm that match with the MT5's built-in simple ADX ... Enjoy!
Pine Script™ indicator
by naoligo
3
KK_Average Directional Index (ADX) Higher TFHey 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 solution that works and thought I would share this with you, since I'm sure some of you have encountered the same problem. How it works Go to your desired Instrument/Timeframe and add the Script Under Settings in the field for "Higher ADX TF" put the Timeframe-code you want to pull the ADX Values from. - Codes: Monthly - M, Weekly W, Daily - D - Codes Intraday: The amount of hours in minutes, e.g. if you want to pull values from the 4h-Chart the code is 240 (60 for 1h, 15 for 15m ...) In some cases (see below) the calculation might not be correct. So make sure the values are correct: a) Write down the latest ADX of the higher TF while you are on the lower TF b) Switch the Resolution to the higher TF c) Compare the value you have just written down to the next to last value. They should be the same. d) Switch back the Resolution to the lower TF and you're good to go. Limitations You can only pull values from higher Timeframes, e.g. you're on a 4h Chart, so you can only pull values from the Daily, Weekly and Monthly Chart. You can't pull values from the 1h Chart. You can only pull values from Timeframes, where the higher Timeframe Close always has a corresponding Close on the lower Timeframe, e.g. you can't pull values from the 3h Chart when you are on a 2h Chart. This should be pretty rare. The Script needs a certain amount of Data from the Higher TF before the calculated values are correct. I have tested this on several Instruments and the Script usually needs approximately 100 Bars on the higher Timeframe (often less) for the values to be correct (error < 1%). So when the difference between your lower Timeframe and you higher Timeframe is large, e.g. you want to pull the Daily ADX value on a 15m-Chart, the calculation can be wrong. This can lead to errors in 2 Cases: a) Backtesting: When you go over old data and get close to the last available Bar the Data will be wrong. This will limit the amount of data you can backtest. b) Live values: When the difference between the two Timeframes is too large, it is possible that even live values are wrong, e.g. this will be the case when you are trying to pull the Daily ADX value on a 5 minute Chart. Always check if the calculation works with your desired combination of Timeframes before using it (see above). I hope this is useful for you and whish all of you successful trading! Best regards Kurbelklaus
Pine Script™ indicator
by Kurbelklaus
1
TheLark: Directional Movement Index StochasticThere 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 to the system described above, which can be turned off if desired.
Pine Script™ indicator
by TheLark
2