HPotter

Demarker

Demarker is an indicator similar to DM+ developed by Welles Wilder.
The DM+ (a part of Directional Movement System which includes both
DM+ and DM- indicators) indicator helps determine if a security is
"trending." The differences between the indicators are in the somewhat
different calculation methods.
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//  Copyright by HPotter v1.0 03/07/2014
// Demarker is an indicator similar to DM+ developed by Welles Wilder.
// The DM+ (a part of Directional Movement System which includes both 
// DM+ and DM- indicators) indicator helps determine if a security is
// "trending." The differences between the indicators are in the somewhat
// different calculation methods.
////////////////////////////////////////////////////////////
study(title="Demarker", shorttitle="Demarker")
Length = input(13, minval=1)
nValue1 =  sum(iff(high > high[1] , high - high[1] , 0), Length)
nValue2 = sum(iff(low > low[1], 0,low[1] - low), Length)
nValue3 = sum(nValue1 + nValue2, Length)
nVal1Avr = nValue1 / Length
nVal2Avr = nValue3 / Length
nRes = nVal1Avr / nVal2Avr
plot(nRes, color=blue, title="Demarker")
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