[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Re: [EquisMetaStock Group] Dynamic Momentum Index (DMI)



PureBytes Links

Trading Reference Links

John,

Go to http://forum.equis.com

You will need to join in order to get the DLL but then again you 
should be a member there anyway.

Preston



--- In equismetastock@xxxxxxxxxxxxxxx, "John Corrion" <corrion@xxxx> 
wrote:
>  Hi,
> 
> I get errors that the two dll's are not in thelibrary, where can I 
get
> them????
> 
> Thanks,
> 
> John
>  
> -------Original Message-------
>  
> From: equismetastock@xxxxxxxxxxxxxxx
> Date: 08/09/05 18:56:38
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Dynamic Momentum Index (DMI)
>  
> An indicator I think you will enjoy.
>  
> Preston
>  
>  
>  
> Description:
>  
> The Dynamic Momentum Index (DMI) was developed by Tushar Chande and 
> Stanley Kroll. The indicator is covered in detail in their book The 
> New Technical Trader.
>  
> The DMI is identical to Welles Wilder's Relative Strength Index 
> except the number of periods is variable rather than fixed. The 
> variability of the time periods used in the DMI is controlled by 
the 
> recent volatility of prices. The more volatile the prices, the more 
> sensitive the DMI is to price changes. In other words, the DMI will 
> use more time periods during quiet markets, and less during active 
> markets. The time periods the DMI can reach is around a maximum of 
> 30 and a minimum of 3. The volatility index used in controlling the 
> time periods in the DMI is based on a calculation using a five 
period 
> standard deviation and a ten period average of the standard 
> deviation. The advantage of using a variable length time period 
when 
> calculating the RSI is that it overcomes the negative effects of 
> smoothing, which often obscure short-term moves.
> In this indicator the option to use a bipolar index is also 
> introduced. The formula for a bipolar index is Bipolar =( up - 
> down ) / ( up + down )
>  
> Interpretation:
> Chande recommends using the DMI much the same as the RSI. However, 
> because the DMI is more sensitive to market dynamics, it often 
leads 
> the RSI into overbought / oversold territories by one or two days. 
>  
> Like the RSI, look for overbought (bearish) conditions above 70 and 
> oversold (bullish) conditions below 30. However, before basing any 
> trade off of strict overbought/oversold levels using DMI or any 
> overbought/oversold indicator, Chande recommends that you first 
> qualify the trendiness of the market using indicators such as r-
> squared or CMO. If these indicators suggest a non-trending market, 
> then trades based on strict overbought/oversold levels should 
produce 
> the best results. If a trending market is suggested, you can use 
the 
> DMI to enter trades in the direction of the trend.
> Formula:
> {Dynamic Momentum Index (DMI)}
> {written by Preston Umrysh}
> {This indicator uses Dll software developed by MetaStock Forum Crew}
> {http://forum.equis.com)}
> x:=Input("normal ouput=1 Biplolar index=2",1,2,1);
> Vt:=(Stdev(C,5)/Mov(Stdev(C,5),10,S))*10;
> Umom:=If(C>Ref(C,-1),C-Ref(C,-1),0);
> Dmom:=If(C<Ref(C,-1),Ref(C,-1)-C,0);
> UPS:= ExtFml( "ForumDll.VarSUM", Umom,Vt);
> DNS:= ExtFml( "ForumDll.VarSUM", Dmom,Vt);
> SumU:=ExtFml("ForumDll.VarMOV",UPS,Vt,e)/Vt;
> SumD:=ExtFml("ForumDll.VarMOV",DNS,Vt,e)/Vt;
> RS:=SumU/SumD;
> DMnm:=100-(100/(1+RS));
> DMIn:=(SumU-SumD)/(SumU+SumD);
> If(x=1,DMnm,DMin); {end} 
>  
>  
>  
>  
>  
>  
>  
> YAHOO! GROUPS LINKS 
>  
> Visit your group "equismetastock" on the web.
>  
> To unsubscribe from this group, send an email to:
> equismetastock-unsubscribe@xxxxxxxxxxxxxxx
>  
> Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.




------------------------ Yahoo! Groups Sponsor --------------------~--> 
<font face=arial size=-1><a href="http://us.ard.yahoo.com/SIG=12h8k04og/M=362343.6886682.7839641.1493532/D=groups/S=1705375617:TM/Y=YAHOO/EXP=1123638797/A=2894352/R=0/SIG=11fdoufgv/*http://www.globalgiving.com/cb/cidi/tsun.html";>Help tsunami villages rebuild at GlobalGiving. The real work starts now</a>.</font>
--------------------------------------------------------------------~-> 

 
Yahoo! Groups Links

<*> To visit your group on the web, go to:
    http://groups.yahoo.com/group/equismetastock/

<*> To unsubscribe from this group, send an email to:
    equismetastock-unsubscribe@xxxxxxxxxxxxxxx

<*> Your use of Yahoo! Groups is subject to:
    http://docs.yahoo.com/info/terms/