Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal


DMI stochastic extreme - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português

votes: 18
2016.11.22 09:55

A variation of DMI stochastic extreme.

The original usage (by Barbara Star) is as she describes :

The DMI stochastic uses the basic formulation for a 10, 3, 3 stochastic oscillator found in most charting packages but replaces the closing price of the price bar with the value of the 10-period DMI oscillator. The overbought and oversold levels are different also. They occur at the 10 and 90 levels instead of the more usual 20 and 80 levels. The DMI stochastic is much faster and less smooth than a stochastic based on price. However, it reaches extremes quickly, which allows for timely entries and exits.

Defaults used are not the defaults used by Barbara Star, but you can set the parameters (including the levels) to the desire values.

This version of indicator deviates in the way how DMI can be calculated. The original DMI uses what is sometimes referred to as "Wilders EMA" - which is exactly the same as what metatrader users are used to as SMMA. So, if you use SMMA for DMI calculation, you are going to get the original DMI, but the indicator allows you to experiment and to change that completely, that way getting new versions of DMI. Coupled with multi time framing, choice of color changes and alerts that are alerting according to the choice of color changes, it can be used for quick reversals seeking or for long trend identifying. As usual, it mostly depends on the settings, but it seems to be useful tool for trading arsenal.

iTrend iTrend

iTrend indicator for MetaTrader 5

Ehlers inverse fisher transform of RSI Ehlers inverse fisher transform of RSI

Ehlers inverse Fisher transform of RSI extended.

i-Paramon work time i-Paramon work time

i-Paramon work time (new version).

Aroon oscillator - dynamic zones (levels) Aroon oscillator - dynamic zones (levels)

Aroon oscillator — that is using dynamic levels/zones instead of using fixed levels for overbought and oversold conditions.