Indicators: Chande's DMI (Dynamic Momentum Index)
thanks for the indicator.
I use the MT4 and I tried to run it. I corrected the only error reported by the corrector.
and it seems to go.
I have only one doubt, it seems that the first 70bars are blocked in overbought. could you take a look at it and let me know if everything is ok?
Files:
Se7enTrader:
Use some of the already existing mt4 version(s) - you can not use mt5 code in mt4 the way you are trying to use
thanks for the indicator.
I use the MT4 and I tried to run it. I corrected the only error reported by the corrector.
and it seems to go.
I have only one doubt, it seems that the first 70bars are blocked in overbought. could you take a look at it and let me know if everything is ok?
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Chande's DMI (Dynamic Momentum Index):
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".
Author: Mladen Rakic