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Indicator · Pine Script v4 · Own pane
DMI
This indicator calculates and displays the Directional Movement Index (DMI) and Average Directional Index (ADX) in a separate pane below the price chart.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code36
Settings2inputs
LicenceNone statedfile: MPL-2.0
Last update6 years ago21 May 2020
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
36 lines of Pine Script v4 from DMI.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// ||------------------------------------------------------------------------------------------------------------------------------------------------------------------------\\ ||
// || This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ \\ ||
// ||------------------------------------------------------------------------------------------------------------------------------------------------------------------------\\ ||
// || DMI in Pine v4 \\ ||
// ||------------------------------------------------------------------------------------------------------------------------------------------------------------------------\\ ||
//<Start Source> <pine>
//@version=4
study(title='DMI (Pine v4)', shorttitle= 'DMI', overlay=false)
len = input(14, minval=1, title="DI Length")
lensig = input(14, title="ADX Smoothing", minval=1, maxval=50)
dmi(len, lensig) =>
up = change(high)
down = -change(low)
plusDM = na(up) ? na : up > down and up > 0 ? up : 0
minusDM = na(down) ? na : down > up and down > 0 ? down : 0
trur = rma(tr, len)
plus = fixnan(100 * rma(plusDM, len) / trur)
minus = fixnan(100 * rma(minusDM, len) / trur)
sum = plus + minus
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), lensig)
[plus, minus, adx]
[D, I, A] = dmi(len, lensig)
plot(D, color=color.blue, title="+DI")
plot(I, color=color.orange, title="-DI")
plot(A, color=color.red, title="ADX")
// </End Source> </pine>
// ||----------------------------------------------------------------------------------------------------------------------------------------------------------------------------||
// || ||
// ||--------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ||
// || Published by © Eric Thies on Tradingview.com --> Released on 2/13/2020 ||
// ||--------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ||
Overview
DMI measures directional price movements by computing the positive directional indicator (+DI), negative directional indicator (-DI), and the smoothed ADX trend strength line using Wilder's moving average. Users can configure the DI calculation length and the ADX smoothing period. The script only plots the three lines and does not provide built-in trading signals, reference levels, or alerts.
- Positive and negative directional indicator plots
- Average Directional Index calculation
- Configurable DI length and ADX smoothing
- Separate pane oscillator display
Details
Published by
digasic on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| DI Length | int | 14 | len |
| ADX Smoothing | int | 14 | lensig |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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