Because the talk about this indicator is the usual : fantastic,.... and in my opinion it is not that (fantastic). Too much false signals
sto of rsi, right?
StoRSI = 100.0*((RSI - LLV)/(HHV - LLV));
After some backtesting I have to agree, the Sto indicator works a lot better in comparison.
Thank's for the indicator. This is a good tool. I guess your friend miss understood about how to use it. You need to read the book of Dynamic Trader to understand how to use it. but this is a useful weapon.
This indy is not much different with RSI over the Stoch, but DTosc have smoother lines. I don't why, i am not a programmer, can you tell me why ?. Thank's any way.
because of formula:
double HHV = RSI[ArrayMaximum(RSI,PeriodStoch,i)];
may be you tell us your understanding about how to use it? (few examples?)
thank you very much!
I need a simple indicator , and will appreciate if you do it , it must draw 2 lines for all the chart
HL=today_high + (previous_day_high - previous_day_low)*0.44
LL=today_low - (previous_day_high - previous_day_low)*0.44
this indicator must fix for mondays too
Hi, sorry for late reply, but it is hard for me to explain it in short words. I learn it from the author of DTOSC, Robert C. Miner, from his book, "High Probability Trading Strategy" Dynamic Traders - Home (i think). Specially with the DTOSC setting, he said there is no fix setting, as long we can see the high and low reversal on previous bar.
It is a classic strategy, Dual time frame, Fib and simple EW, but it is very great combination (for me). after I read it, it become simple, but to explain it would take more time.
New indicator was posted in elite indicators section:
McGinley Dynamic indicator (based on original article by John R. McGuinley, Jr.) is on this post.
Hi ND ,
McGinley Dynamic indicator for Metatrader posted in Forexfactory.McGinley Dynamic indicator in the elite section is different than the one in FF?