USed the DMI Oscillator created by LARK " " to create this DMI Stochastic Extreme. You can also use the DMI Stochastic by Lark
Updated Version -
Updated Version -
Uday C Santhakumar
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
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study(title="DMI Stochastic Extreme", shorttitle="DMI-Stochastic", overlay=false) // Wells Wilders MA wwma(l,p) => wwma = (nz(wwma) * (l - 1) + p) / l // Inputs DMIlength = input(10) Stolength = input(3) // DMI Osc Calc hiDiff = high - high loDiff = low - low plusDM = (hiDiff > loDiff) and (hiDiff > 0) ? hiDiff : 0 minusDM = (loDiff > hiDiff) and (loDiff > 0) ? loDiff : 0 ATR = wwma(DMIlength, tr) PlusDI = 100 * wwma(DMIlength,plusDM) / ATR MinusDI = 100 * wwma(DMIlength,minusDM) / ATR osc = PlusDI - MinusDI // DMI Stochastic Calc hi = highest(osc, Stolength) lo = lowest(osc, Stolength) Stoch = sum((osc-lo),Stolength) / sum((hi-lo),Stolength) *100 plot(Stoch, color = white, title = 'Stochastic', linewidth = 2, style = line) p0 = 0 p1 = 100 p2 = 90 p3 = 10 crossUp = Stoch < 10 and Stoch >10 ? 1 : 0 crossDown = Stoch > 90 and Stoch < 90 ? 1 : 0 //crossP3 = cross(Stoch,p3) //circleYPosition = crossP3 //circleYPosition = p3 //circleYPosition_l = p2 plot (p3, color = red, linewidth = 1, title = 'Over Bought') plot (p2, color = green, linewidth = 1, title = 'Over Sold') //plot(crossUp and crossP3 ? circleYPosition : na, color = green, style = cross, linewidth = 4, title='Long') //plot(crossUp ? circleYPosition : na, color = green, style = cross, linewidth = 4, title='Long', offset=-1) //plot(sd and cross_down and cross(sma(ac, 1), achm) ? circleYPosition : na,style=cross, linewidth=6, color=fuchsia) //plot(crossDown ? circleYPosition_l : na,style=cross, linewidth=6, color=fuchsia, offset=-1) //plot(cross(Stoch,p2) ? Stoch : na, color = Stoch < p2 ? red : na, style = cross, linewidth = 4, title='Short') plotchar(crossUp, title="i", char='B', location=location.bottom, color=green, transp=0, offset=0) plotchar(crossDown, title="Gann Swing Low Plots-Triangles Up Bottom of Screen",char='S', offset=0, location=location.top, color=red, transp=0)