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Vladimir,
YEAH!!!!!
You da man!
I've thought about an expert but we may not be done with the
indicator yet. The drive behind this was the development of the DLL
on the Equisforum and the question asked here about the DMX.
In order to progress further we need a RSI variable DLL which I'm
sure Patrick will be happy to write. Then we need the tradestation
code to see how Jurik is smoothing the value of the close. Right now
I'm guessing that a zerolag ema will work but until we see the code
we won't know for sure.
In the meantime we could go ahead with an expert. How would you trade
it...cross 50 or overbought/oversold zones?
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "v" <entinv@xxxx> wrote:
> 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
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
> [mailto:equismetastock@xxxxxxxxxxxxxxx]On Behalf Of pumrysh
> Sent: Tuesday, August 09, 2005 10:12 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: Re: [EquisMetaStock Group] Dynamic Momentum Index (DMI)
>
>
> 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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