Colored Dynamic Momentum Index DMI

5

If you are (or were) a fan of the RSI indicator will love Tushar Chande's Dynamic Momentum Index indicator, that simply put is a dynamic variable lenght RSI, so it is more powerful. The DMI indicator internally uses a variable number of bars in its calculations, taking into consideration the volatility levels of the current market you are analyzing. This way, the DMI indicator will use more bars as volatility decreases and less bars when volatility increases, giving you a more powerfull analysis over the Overbought and Oversold stages of the asset being analyzed.

If you want to be more in depth with this subject, please read Tushar Chande & Stanley Kroll book "The New Technical Trader" from Wiley Finance.


How to "READ" the Colored Dynamic Momentum Index (DMI)

  • Read as a RSI indicator, with traditionals levels set at 30 and 70. Of course, tweaking the settings will give you more accuracy analyzing your favorite asset. So try it!
  • Readings below 30 are a Oversold state, and above 70, an Overbought state.

SETTINGS

    • DMI period (number of bars to analyze)
    • DMI minimum number of bars to analyze. Default/Classic: 3 bars (days, if you are using daily charts)
    • DMI maximum number of bars to analyze. DefaultClassic: 30 bars (days, if you are using daily charts)
    • Standard Deviation period (number of bars). Default/Classiv: 5 bars (days, if you are using daily charts)
    • Standard deviation smoothing period (bars). Default/Classic: 10 bars (days, if you are using daily charts)
    • Overbought/Oversold levels.


    If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)...   

    This will mean A LOT to me... And this way I can continue to give away Cool Stuff for Free...

    With No Strings Attached!  Ever!


    Live Long and Prosper!

    ;)


    Reviews 4
    soeuseidoni10
    74
    soeuseidoni10 2024.09.08 09:49 
     

    Indicador excelente, será que plotar uma média móvel no gráfico baseado nele seria possível, você tem alguma sugestão?

    Detleff Böhmer
    3255
    Detleff Böhmer 2024.04.18 09:39 
     

    Ein weiterer und sehr hilfreicher Indikator von Flavio, ich liebe Deine Indikatoren, DANKE!!!

    heiko v.piechowski
    2029
    heiko v.piechowski 2024.04.17 11:32 
     

    Super and helpful tool, thank you

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    Garry James Goodchild
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    Flavio Javier Jarabeck
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    Arrows Cleaner
    Flavio Javier Jarabeck
    5 (4)
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    ATR Monitor EA Friendly
    Flavio Javier Jarabeck
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    Flavio Javier Jarabeck
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    Flavio Javier Jarabeck
    4 (1)
    Easily get all relevant economic events of the current day right into your chart, as markers. Filter what kind of markers do you want: by country (selected individually) and by Importance (High relevance, Medium, Low or any combination of these). Configure the visual cues to your liking. Additionaly you have the ability to add up to 5 personal markers of your own agenda. With Alerts and/or with blackout periods, if you are using it within an Expert Advisor! All in one Economic Calendar indicator
    Mini Chart Indicators
    Flavio Javier Jarabeck
    The Metatrader 5 has a hidden jewel called Chart Object, mostly unknown to the common users and hidden in a sub-menu within the platform. Called Mini Chart, this object is a miniature instance of a big/normal chart that could be added/attached to any normal chart, this way the Mini Chart will be bound to the main Chart in a very minimalist way saving a precious amount of real state on your screen. If you don't know the Mini Chart, give it a try - see the video and screenshots below. This is a gr
    Market Momentum PRO
    Flavio Javier Jarabeck
    The Market Momentum indicator is based on the Volume Zone Oscillator (VZO), presented by Waleed Aly Khalil in the 2009 edition of the International Federation of Technical Analysts journal, and presents a fresh view of this market valuable data that is oftenly misunderstood and neglected: VOLUME. With this new approach of "seeing" Volume data, traders can infer more properly market behavior and increase their odds in a winning trade. "The VZO is a leading volume oscillator; its basic usefulness
    Filter:
    soeuseidoni10
    74
    soeuseidoni10 2024.09.08 09:49 
     

    Indicador excelente, será que plotar uma média móvel no gráfico baseado nele seria possível, você tem alguma sugestão?

    Flavio Javier Jarabeck
    360308
    Reply from developer Flavio Javier Jarabeck 2024.09.08 13:53
    você mesmo pode inserir uma média do mt5 ali, basta arrasta-la para o indicador.
    Detleff Böhmer
    3255
    Detleff Böhmer 2024.04.18 09:39 
     

    Ein weiterer und sehr hilfreicher Indikator von Flavio, ich liebe Deine Indikatoren, DANKE!!!

    Flavio Javier Jarabeck
    360308
    Reply from developer Flavio Javier Jarabeck 2024.04.18 13:04
    Thanks for your support Detleff!
    heiko v.piechowski
    2029
    heiko v.piechowski 2024.04.17 11:32 
     

    Super and helpful tool, thank you

    Flavio Javier Jarabeck
    360308
    Reply from developer Flavio Javier Jarabeck 2024.04.17 20:49
    I'm glad you liked it! ;)
    Findolin
    2640
    Findolin 2024.04.08 21:56 
     

    Very good and helpful indicator. Thank you very much!

    Flavio Javier Jarabeck
    360308
    Reply from developer Flavio Javier Jarabeck 2024.04.17 20:49
    I'm glad you liked it! Thank you! ;)
    Reply to review