Micro E-mini Nasdaq-100 Index Futures (Mar 2022)CME
Beschreibung
⋅
This indicator I am posting open for everyone to see and use.
This is a modified DMI indicator, It has a DMI+ and DMI- and a 3rd line that is the average divergance/convergance of the two.
This indicator is used to recognize periods of consolidation, directional strength and retracements/reversal
There are some key things to watch for:
-When the Div/Conv line is yellow it means that the DMI+/- average distance is moving closer together(converging)
-When the Div/Conv line is aqua it means that the DMI+/- average distance is moving further apart(diverging)
-One DMI must be below the top threshold and other DMI must be below at least the Top threshold(or bottom if you prefer) to be considered valid
Signs of condolidation/possible reversal/weak strength:
-When the DMI+/- are crossing at any location stay mindful of entries -If both DMI's are above the threshold there is no clear direction -When the DMI Div/Conv is yellow it means trend is slowing down and aqua means it is picking up
Thanks for sharing. I've been working on something similar & I noticed you increased the DMX length (combined DMIs) from 14 to 21 here. Was that to lower the plot so the DMI lines both chart without obstruction? There was a "function should be extracted from ternary operator for consistency" warning/error when I compiled. Here's what I did to fix it: 1- Added this above the "line plots" section- //Function extracted from ternary operator for consistency // KB 2-3-22 sma_di = ta.sma((di), lenDC) 2- Revised the last line to correspond with the variable above- plot(di == dil ? sma_di: di == dis ? sma_di: na, color= sma_di > sma_di[1] ? color4: color3, title="Div/Conv", style=plot.style_linebr, linewidth= 3)
Exmodaus
⋅
@KryptoBeau, Hello thank you, I was going to go back and adjust that I just have not had a chance to. I appreciate you pasting that here I will check it then update. The reason for the 2 lengths is one is the length for the DMI+/- period and the other is the period to average those averages. This is for additional smoothing and what I use.
There was a "function should be extracted from ternary operator for consistency" warning/error when I compiled.
Here's what I did to fix it:
1- Added this above the "line plots" section-
//Function extracted from ternary operator for consistency // KB 2-3-22
sma_di = ta.sma((di), lenDC)
2- Revised the last line to correspond with the variable above-
plot(di == dil ? sma_di: di == dis ? sma_di: na, color= sma_di > sma_di[1] ? color4: color3, title="Div/Conv", style=plot.style_linebr, linewidth= 3)