improved DmiThis is a new indicator that make the normal DMI better
insread of the ADX I put a volume indicator that have been transformed to be on regular scripts
with this it much more easy to spot the true buy and sell points by the DMI
have fun
Directional Movement Index (DMI)
Geek's DMINot an upgrade as much as a tweek.
DMI+/- are slightly smoother.
ADX was modified to be a field that is negative or positive, the value of which was multiplied to be highly visible.
Hope you like it.
Price relation viewer - add percent change of two symbols (BETA)This script is very much beta!
This is a simple script to visualize how two symbols move in relation to each other. For example if the underlying symbol is a 2x Gold ETF (meaning the ticker moves at 2x the spot price of gold---if gold goes up 3% this ticker should go up 6%) and the comparison symbol is an 2x inverse gold ETF (at gold up 3% this should move down 6%). If these ETFs were 100% accurate at tracking the price of gold then this tool would report a value of zero at all times.
Day 1
Ticker - $10
Comparison - $10
Day 2
Ticker - $12
Comp - $11
This tool value - |20%| + -|10%| = 10%
It uses a short simple moving average to smooth things out a bit (see inputs). It is important to keep your axis scale in mind when using this! Two symbols that are always near zero mean they are offsetting each other very well but the value displayed might range from 0 to 0.005, but the graphed area can make it look extreme if autoscaled.
This is a tool with very specific uses : comparing how one digital currency moves in relation to bitcoin's price, comparing how gold moves in relation to silver, etc.
[INDICATOR]Renko Emulator OCC v1 by JustUncleLThis "Study" project has been created by request and is used in conjunction with the "Strategy" version.
*** EXPERIMENTAL ***
*** USE AT YOUR OWN RISK ***
Description:
Indicator based around Renko Bar Chart emulator (ATR) with direction change used to signal buy/sell trades.
I have generally found that setting the strategy ATR resolution to 3-5x that of the chart you are viewing tends to yield the good results, regardless of which chart time used. Positions get taken automatically following THE Renko Bar after a crossover.
Directional Movement Index 4 colors (DMI 4c)It is a normal Directional Movement Index, but instead of using lines for +DI and -DI it uses histogram and 4 colors. It also contains an horizontal line (default value @20) to indicate when a trend is confirmed or not.
Kay_BBandsV3This is the 3rd version of Kay_BBands.
When +DI (Directional Index ) is above -DI , then Upper band will be visible and vice-versa.
This is when the ADX is above the threshold. 28 is the default in this version. I found its more appealing in 5M time frame.
BLUE - ADX under 10
GREEN - Uptrend, ADX over 10
RED - Downtrend, ADX over 10
Use it with another band with setting 20, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.
I didn't know how to update the old script so published it again.
Changes - :
1) Updated default settings for the indicator
2) ADX setting are now DI (28), ADX (10), adx level to check is 10.
3) IMPORTANT one - When DI is up/down, lower/upper band will also have color (more visible that way.)
Play around the settings.. It really eliminates extra indicator checking visually... Please like if you think idea is good.
Kay_BBands v2This is the second version of Kay_BBands. But this is infused with ADX.
When +DI (Directional Index) is above -DI, then Upper band will be visible and vice-versa.
This is when the ADX is above the threshold. 20 is the default but can be set to 25.
When the ADX is below the specified threshold, both bands gets visible, showing no trending conditions.
Use it with another band with setting 20/21, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.
Directional Movement Index + ADX & Keylevel SupportADX and DMI oscillator with the keylevel coded in to the script, set for 23, suggested settings is 23 - 25 any trade with the ADX above the keylevel is a strong indicator that it is trending.
Directional Movement (DMI)Directional Movement indicator implemented in Pine script. Use it to customize ADX behavior.
TheLark: Directional Movement Index StochasticThere is a nice writeup about a system that uses DMISTO here, which includes decent statistics:
traderedge.net
I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar to the system described above, which can be turned off if desired.
TheLark: Directional Movement Index OscillatorA modified DMI, This turns the standard DMI into an Oscillator. The DMI cross signal is the same, but as an OSC you get the added benefits or finding divergences, etc. The added WIlder's Average Line (blue) can help you see if a short term trend is getting less interesting.
The Lark: Directional Movement IndexAn open source version of the DMI. Mostly published for other scripters to modify.
Typical useage: www.investopedia.com
