I am afraid I do not understand. It is an oscillator already
Would you mind explaining a bit more?
I can not put it in the same window (different range of values)
Will make a separate version that will be just the oscillator
Here is a multi time frame version with alerts
Could you please add divergency trendlines and alerts on divergencies to DMI stochastic extreme 1.1.mq4 indicator?
Here is the oscillator version
PS: still left the 4 types of smoothing method. To remind : original ADX (DMI) is calculated using SMMA (which is sometimes called "running MA" and is equal in values to what is called "Wilders EMA" which is used in original DMI), but I left the option to experiment with the other types of averages too
Also this version :
This version has an option to smooth the results of the oscillator and it has 3 choices of color chage :
alerts are triggered according to color change choice
Here is simple explanation on how to use them.
A. DMI stochastic extreme (stoch) is going lower from 90 region. Look for sell. DMI oscillator (osc) shows downtrend - great place to sell.
B. Stoch going up, but osc still red. Wait.
C. Sell signal from stoch, but osc not yet turned red. (Remember, we wait osc turned red/green first).
D and E. These are called 'hook' by some people and if im not mistaken by the stochastic creator itself - George Lane. Look like hook, we can definitely re-enter while osc still green.
F. While the pair is trending, we'll see this situations more frequently. Stoch will never go below to 10. This is how it's should be. Signal of reentry always there if you look at D and E.
There will be questions asking for template, here it is: