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<In your attached file, DynRSI-S&R.gif, I refer to the top inner window.
<Can you please explain to me exactly what to plot from the indicator
<quicklist for the 2 DMI-systems to get the brown and green smooth
<lines as in the chart.>
The SDMI-system I had brewed here uses a very basic, but also very powerfull
Smoothed DMI indicator(green, formula below) and has the same kind of
characteristics as can be found with the RSI and CMO etc., eg divergences,
OB/OS-levels, trickers etc.. And as the to be crossed-over tricker-line(brown)
and also for the very short term(VST) have used a 9-day SMA of this system,
and not seen on the chart, but now for the short and intermediate term(ST, IMT)
use a 20-day SMA, mainly for trend (direction) detection, divergences and charting.
SMOOTHED DMI INDEX (20PERIOD MA) (#028a)
Mov(PDI(14)-MDI(14),20,S)
Using the basic Directional Movement trading system involving plotting the
14-period +DI and the 14-period -DI on top of each other as a multiple
2-in-1 (inner window) indicator, attracted my attention at first, but as it was not
a very perfect system, had to do lots of more work to it.
Changing the Daily charts to Weekly gave a lot better picture and also trickers'
crosses, and out of the blue then got the idee to "just" deduct one from the other.
This not knowing at that time, and only later from my ever very first time of using
the MS build-in Expert Advisor Tool, then found out that a hyper active version is
already buid-in, eg only as an Expert.
The Expert Tool consist of the "Equis - Directional Movement" Expert and makes
use of the full DM System(incl. the ever so slow ADX/ADXR), search the
Help Index on "Directional movement:").
Thus do note that my "smoothed directional movement system" is not the same as
the DMI (of the DMS) function/indicator that is standard build-in Metastock 6.x ,
as that is taken from Welles Wilder's DMS, but that my SDMI has only simply the
recent developed negative Minus Directional Movement(MDI) deducted from the
recent developed Possitive Directional Movement(PDI), eg turning it into an
oscilating trend folowing and most of the time, leading oscilator.
And an also well explanation on the Thushar Chande's DMI function, his Dynamic
Momentum Index(dmi), can be found in the in MSv6x build-in Help also, eg search
the Help-Index for "dynamic" and click all of the bold green links.
<How can I get the (HSS+HSR) and (TSS+TSR) levels ?>
The Horizontal Straight Support and Resitance lines and levels are there manualy
drawn(as was the quickly drawn but not too acuarte trend channel also) and are
based on the in time made trading ranges, eg be it 1,2,20,200 or longer multiple
weeks/months lasting ranges(zones). Now from a lookback in history, you will find that
most ranges borders' multiple made extremes are the same as also for the recently
made ranges borders extremes, and also most of the time these ranges extremes
borders) will be either found at rounded figures (S&R levels), or stepped up or down
will, in points or also relative(%), be of equal steps, eg with steps (in this of +50) of
125-175-225-275.
If these steps then do not fit properly on the chart, then shift/move your levels' lines
up or down so that most of the -in time- made extremes will hit the Horizontal line
(and these drawn lines are then to become the major Support or major Resistance
levels) and future projections or bounces off/on these lines levels (using these steps)
can then be made as well, and most of the time, using properly drawn trend channels
using the hit extreme High-Low lines(channels borders) and then coinciding with these
Horizontal lines, will give you the "perfect" (not always, tho) oportunity to set estimated
targets for new major Support or Resistance barriers.
Regards,
Ton Maas
ms-irb@xxxxxx
----- Original Message -----
From: Charl Marais <pcmarais@xxxxxxxxxxxxx>
To: A.J. Maas <anthmaas@xxxxxx>
Sent: vrijdag 19 februari 1999 11:29
Subject: Re: Dynamic Zones
>Hello
>
>In your attached file, DynRSI-S&R.gif, I refer to the top inner window.
>Can you please explain to me exactly what to plot from the indicator
>quicklist for the 2 DMI-systems to get the brown and green smooth
>lines as in the chart.
>
>
>> >Chart's notes:
>> >Middle chart consist of the natural Horizontal Straight Support & Resistance (HSS+HSR) levels
>> >and the natural Trend Straight Support & Resistance lines(TSS+TSR). All idealy for "get-in and
>> >get-out" use; trading. Unfortunatly no formulas have been written for the S&R levels.
>> >Top-inner-window is RSI-9 and bottom-inner-window is RSI-14, the zones have RSI-9 as underlay.
>> >Combined........................see GIF for results, view just "some" of the AEX-index history when it was
>> >moving sideways(past 4 years) and slowly building up for the 1993/94 1st Elliot Wave-rally.
>
>Thanks
>Charl Marais
>################################
>Charl Marais
>
>M.Sc.Eng. (Chemical Engineering)
>University of Stellenbosch
>Tel. +27-21-8083163
>Fax. +27-21-8084967
>http://www.sun.ac.za/polymer/pcm.jpg
>http://www.sun.ac.za/polymer/students.htm#MSc
> look under MSc STUDENTS : OTHER DEPARTMENTS
>
>Address:
>---------------------
>Huis De Villiers E304
>2 Murray Street
>7600 Stellenbosch
>South Africa
>Tel. +27-21-8875240
>------oooOooo------
>
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