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Dynamic Momentum Index

This indicator was originally developed by Tushar S. Chande and Stanley Kroll. They described it in their book The New Technical Trader(1994).
The period for DMI calculation depends on the market volatility. DMI uses a longer period as volatility decreases and a shorter period as volatility increases, making it more responsive to changing prices than RSI which uses a fixed period. That's why the indicator is called "dynamic". You can specify the DMI period bounds (defaults are 5 and 30) in the indicator settings.
The calculation is based on the standard deviation of prices. The authors used a custom volatility index to adjust RSI period - the similar concept was used in the original VIDYA (yes, it was based on the standard deviation).
Source code on request
The period for DMI calculation depends on the market volatility. DMI uses a longer period as volatility decreases and a shorter period as volatility increases, making it more responsive to changing prices than RSI which uses a fixed period. That's why the indicator is called "dynamic". You can specify the DMI period bounds (defaults are 5 and 30) in the indicator settings.
The calculation is based on the standard deviation of prices. The authors used a custom volatility index to adjust RSI period - the similar concept was used in the original VIDYA (yes, it was based on the standard deviation).
Source code on request
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Coding services -> Telegram: @alex_everget
A list of FREE indicators:
bit.ly/2S7EPuN
A list of PAID indicators:
bit.ly/33MA81f
Earn $15:
tradingview.com/pricing/?share_your_love=everget
A list of FREE indicators:
bit.ly/2S7EPuN
A list of PAID indicators:
bit.ly/33MA81f
Earn $15:
tradingview.com/pricing/?share_your_love=everget
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Coding services -> Telegram: @alex_everget
A list of FREE indicators:
bit.ly/2S7EPuN
A list of PAID indicators:
bit.ly/33MA81f
Earn $15:
tradingview.com/pricing/?share_your_love=everget
A list of FREE indicators:
bit.ly/2S7EPuN
A list of PAID indicators:
bit.ly/33MA81f
Earn $15:
tradingview.com/pricing/?share_your_love=everget
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.