MultiIndicator combines multiple technical indicators into a single separate pane to save chart space. It calculates and displays market regime detection based on ordinary least squares regression, a Holt exponential smoothing crossover, normalized RSI, ADX, a
Indicator · Pine Script v5 · Own pane
DMI Improve
This indicator improves the standard Directional Movement Index by adjusting plus and minus directional movement calculations with a weight factor and SMA adjustments for sensitivity.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code57
Settings4inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
DMI Improve calculates and plots improved DI+ and DI- lines in a separate pane. Settings control smoothing period, variance period, ADX period, and weight multiplier. The main settings adjust smoothing and sensitivity levels. It draws trend and momentum indicators on a separate pane. ADX value is computed but not plotted due to scale differences. This is a utility indicator with no entry or exit signals.
- Improved DMI
- DI Plus Minus
- EMA Smoothing
- Variance Adjustment
- Weight Multiplier
Details
Published by
JohnsonHsiao on GitHub
Type
Draws
Separate pane below the chart
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ma_p | int | 9 | ma_p |
| var_p | int | 15 | var_p |
| adx_p | int | 10 | adx_p |
| weight | int | 10 | weight |
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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