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Preston,
Thanks, I've got it installed and it works. It would be nice though
to create an Expert based on this
indicator.
Thanks,
Vladimir
Vladimir,
You must be logged on, then go
to:
http://forum.equis.com/viewtopic.php?t=1400
If
you are not logged on you will not see the DLL
download.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "v"
<entinv@xxxx> wrote:
> Where all the DLLs in this Equis forum you
refer to? I've
registered but
> can't find any DLLs
>
though forum FAQ says DLLs available in the forum but doesn't say
where
they
> are.
>
> Thanks,
>
Vladimir
>
> -----Original Message-----
> From:
equismetastock@xxxxxxxxxxxxxxx
>
[mailto:equismetastock@xxxxxxxxxxxxxxx]On Behalf Of pumrysh
> Sent:
Tuesday, August 09, 2005 6:57 PM
> 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}
>
>
>
>
>
>
>
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