MisterMoTA

MO DMI

MisterMoTA Updated   
MO DMI is our indicator for Directional Movement Index . When DMI+ is above DMI- , the price has more upward pressure than downward pressure. Conversely, if DMI- is above DMI+, the price has more downward pressure. This helps traders assess the trend direction.

The directional movement index (DMI) measures both the strength and direction of a price movement and is used to reduce false signals.

The DMI employs two standard indicators, one negative (-DI) and one positive (+DI), with a third, the average directional index (ADX), which is nondirectional but shows momentum.

The larger the spread between the two primary lines, the stronger the price trend. If +DI is way above -DI, the price trend is strongly up. If -DI is way above +DI, then the price trend is strongly down.

ADX measures the strength of the trend, either up or down. If it's above 25, that indicates a strong trend. ADX below 15 means trend change or a range, consolidation (sideways period) starting.

MO DMI comes with a color coded fill area between Plus and Minus DMI's to help user identify faster the moves, as is a lagging indicator, need to be combined with a leading indicator for better results.

The indicator comes with 10 alerts :

  • Alert for Plus Cross Above Minus DMI
  • Alert for Minus Cross Above Plus DMI
  • Alert for AVG Increasing
  • Alert for AVG Decreasing
  • Alert for Consolidation
  • Alert for ADX Crossing Above 25
  • Alert for DMI+ Crossing Above 25
  • Alert for DMI- Crossing Above 25
  • Alert for DMI+ Crossing Below 15
  • Alert for DMI- Crossing Below 15

Risk Disclaimer

All content and developments created by MisterMoTA are purely for informational and educational purposes only. Past performance does not guarantee future results.
Release Notes:
disabled shortname in the name of indicator

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact MisterMoTA for more information, or follow the author's instructions below.

Please note that this is a private, invite-only script that was not analyzed by script moderators. Its compliance to House Rules is undetermined. TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Author's instructions

To request access to the indicator please send me a private message. All scripts and content provided by MisterMoTA are for informational and educational purposes only. Past performance does not guarantee future results.

Want to use this script on a chart?

Warning: please read before requesting access.