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If you like using the Directional Movement Indicator, you're gonna
love this.....
Open this indicator in a new pane and use on 1 or 5 minute data. It
shows higher time frame trends: green = UP, red = DOWN.
There are two parameters:
1. DMI length
2. Show 15 and 30min also?: 0 = Don't add these in, 1 = Show them as
well
Default is DMI of 2 on hourly, 4 hourly and 12 hourly data.
I really like this one, as it shows me what the major trends are
doing at any one time. DMI is much more sensitive than EMAs, etc...
Cheers,
Alex
=================================================================
_SECTION_BEGIN("MultipleTimeFrameDMI");
// Programmer: (C) Alex Chambers, June 2007
// For Amibroker - just insert into a NEW BLANK pane
// I, Alex Chambers, am not responsible for any results you may have
from the use of this indicator
// You must evaluate yourself the potential for gains AND losses
// Please include this and/or any other comment description of any
changes you make.
a = 0;
Plot(a,"",colorWhite); // This creates enough chart
space for the rectangles
SetChartOptions(0,chartShowArrows|chartShowDates|chartWrapTitle);
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle |
ParamStyle("Style") | GetPriceStyle() );
f = Param("DMI length",2,2,20,1);
Opt = Param("Show 15 and 30min also?",1,0,1,1);
TimeFrameSet(in15Minute);
eVal = PDI(f);
fifPDI = Ref(eval,1); /// Push back by one so on right one
eVal = MDI(f);
fifMDI = Ref(eval,1); /// Push back by one so on right one
TimeFrameRestore();
TimeFrameSet(2*in15Minute);
eVal = PDI(f);
thirPDI = Ref(eval,1); /// Push back by one so on right one
eVal = MDI(f);
thirMDI = Ref(eval,1); /// Push back by one so on right one
TimeFrameRestore();
TimeFrameSet(12*inHourly);
eVal = PDI(f);
twPDI = Ref(eval,1); /// Push back by one so on right one
eVal = MDI(f);
twMDI = Ref(eval,1); /// Push back by one so on right one
TimeFrameRestore();
TimeFrameSet(4*inHourly);
eVal = PDI(f);
frPDI = Ref(eval,1); /// Push back by one so on right one
eVal = MDI(f);
frMDI = Ref(eval,1); /// Push back by one so on right one
TimeFrameRestore();
TimeFrameSet(inHourly);
eVal = PDI(f);
hrPDI = Ref(eval,1); /// Push back by one so on right one
eVal = MDI(f);
hrMDI = Ref(eval,1); /// Push back by one so on right one
TimeFrameRestore();
twPDIexp = TimeFrameExpand(twPDI,12*inHourly);
twMDIexp = TimeFrameExpand(twMDI,12*inHourly);
ColTW = IIf(twPDIexp > twMDIexp,colorGreen,colorRed);
wrdTW = WriteIf(twPDIexp > twMDIexp,"BULLISH","BEARISH");
frPDIexp = TimeFrameExpand(frPDI,4*inHourly);
frMDIexp = TimeFrameExpand(frMDI,4*inHourly);
ColFR = IIf(frPDIexp > frMDIexp,colorGreen,colorRed);
wrdFR = WriteIf(frPDIexp > frMDIexp,"BULLISH","BEARISH");
hrPDIexp = TimeFrameExpand(hrPDI,inHourly);
hrMDIexp = TimeFrameExpand(hrMDI,inHourly);
ColHR = IIf(hrPDIexp > hrMDIexp,colorGreen,colorRed);
wrdHR = WriteIf(hrPDIexp > hrMDIexp,"BULLISH","BEARISH");
fifPDIexp = TimeFrameExpand(fifPDI,in15Minute);
fifMDIexp = TimeFrameExpand(fifMDI,in15Minute);
ColFIF = IIf(fifPDIexp > fifMDIexp,colorGreen,colorRed);
wrdFIF = WriteIf(fifPDIexp > fifMDIexp,"BULLISH","BEARISH");
thirPDIexp = TimeFrameExpand(thirPDI,2*in15Minute);
thirMDIexp = TimeFrameExpand(thirMDI,2*in15Minute);
ColTHIR = IIf(thirPDIexp > thirMDIexp,colorGreen,colorRed);
wrdTHIR = WriteIf(thirPDIexp > thirMDIexp,"BULLISH","BEARISH");
if (Opt==0)
{
t = HHV(H,BarCount);
a = t / 4;
PlotShapes(shapeSquare,ColHR,0,a*3,0);
PlotShapes(shapeSquare,ColFR,0,a*2,0);
PlotShapes(shapeSquare,ColTW,0,a,0);
Title = "Hourly "+wrdHR+" 4 Hourly "+wrdFR+" 12
Hourly "+wrdTW+" DMI = "+f;
}
else
{
t = HHV(H,BarCount);
a = t / 6;
PlotShapes(shapeSquare,ColFIF,0,a*5,0);
PlotShapes(shapeSquare,ColTHIR,0,a*4,0);
PlotShapes(shapeSquare,ColHR,0,a*3,0);
PlotShapes(shapeSquare,ColFR,0,a*2,0);
PlotShapes(shapeSquare,ColTW,0,a,0);
Title = "15min "+wrdFIF+" 30min "+wrdTHIR+" Hourly
"+wrdHR+" 4 Hourly "+wrdFR+" 12 Hourly "+wrdTW+" DMI =
"+f;
}
_SECTION_END();
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