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Indicators

Chande's DMI (Dynamic Momentum Index) - indicator for MetaTrader 5

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1074
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votes: 14
Published:
2018.03.08 13:50
Updated:
2018.03.19 09:45
Chandes DMI.mq5 (20.47 KB)view

The Dynamic Momentum Index (DMI) is a variable term RSI. When default values are used, the RSI term varies from 3 to 30. The variable time period makes the RSI more responsive to short-term moves. The more volatile the price is, the shorter the time period is. It is interpreted in the same way as the RSI, but provides signals earlier.

The Dynamic Momentum Index was developed by Tushar S. Chande and Stanley Kroll and is described in their 1994 book "The New Technical Trader".

This version is the same as the original described in the "The New Technical Trader".

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