Hi Preston,
What a forum, where are the files...all I find are posts. This site needs improvement.
John
-------Original Message-------
Date: 08/09/05 19:53:24
Subject: Re: [EquisMetaStock Group] Dynamic Momentum Index (DMI)
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.
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