DMI Tushar
The DMI (Directional Movement Index) Tushar, potentially powered by Amibroker data feed, involves an adaptation of the traditional DMI indicator. AFLs in Amibroker might be utilized to implement Tushar’s modifications to the DMI, aiding in trend analysis and identifying potential entry/exit points.
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_SECTION_BEGIN("DMI Tushar");
//Dynamic Momentum Index Tushar Chande Translated to AFL by Jayson Casavant
//Cmo5 formula
GraphXSpace = 3;
CMO5_1=Sum( IIf( C > Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,5 ) ;
CMO5_2=Sum( IIf( C < Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ,0 ) ,5 );
CMO5=DEMA(100 * Nz(( CMO5_1 -CMO5_2) /( CMO5_1+CMO5_2)),3);
//Cmo10 formula
CMO10_1=Sum( IIf( C > Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,10 ) ;
CMO10_2=Sum( IIf( C < Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ,0 ) ,10 );
CMO10=DEMA(100 * Nz(( CMO10_1 -CMO10_2) /( CMO10_1+CMO10_2)),3);
//Cmo20 formula
CMO20_1=Sum( IIf( C > Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,20 ) ;
CMO20_2=Sum( IIf( C < Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ,0 ) ,20 );
CMO20=DEMA(100 * Nz(( CMO20_1 -CMO20_2) /( CMO20_1+CMO20_2)),3);
// dmi formula
dmi=((StDev(C,5)* CMO5)+(StDev(C,10)* CMO10)+(StDev(C,20)*
CMO20))/(StDev(C,5)+StDev(C,10)+StDev(C,20));
pds=Param("Smoothing",5,1,10,1);
pds1=Param("Trigger Line",8,1,10,1);
Plot(EMA(dmi,pds),"Dynamic Momentum Index",colorBlue,4);
Plot(MA(dmi,pds1),"trigger",colorYellow,styleDashed);
Plot(-40,"",colorGreen,1+styleThick);
//Plot(-20,"",colorRed,1);
//Plot(0,"",colorBlue,1);
//Plot(20,"",colorGreen,1);
Plot(40,"",colorRed,1+styleThick);
TEMP=(EMA(dmi,pds));
Buy=Cross(EMA(dmi,pds),MA(dmi,pds1)) AND TEMP<-35;
Sell=Cross(MA(dmi,pds1),EMA(dmi,pds)) AND TEMP>30;
PlotShapes(IIf(Buy,shapeDigit2,shapeNone) ,colorPink);
PlotShapes(IIf(Sell,shapeDigit3,shapeNone),colorOrange);
Title=EncodeColor(colorLightBlue)+"Dynamic Momentum "+EncodeColor(colorGold)+ " Open: "+O+" High: "+H+" Low: "+L+" Close: "+C+
EncodeColor(colorWhite)+" \n CHART # 2 "+EncodeColor(colorBrightGreen)+Date()+EncodeColor(colorLightYellow)+" This signal is early.";
_SECTION_END();