[UPRIGHT] Awesome DMI+

Feb 11, 2022

Hello Traders,

Today I'm releasing a spin on an 'oldie but goodie'; the Directional Movement Index (DMI).
DMI is a combination of 3 different indicators developed by the famous J. Welles Wilder. DMI has 3 different plots: the ADX, +DI, and -DI. The first is the ADX (Average Directional Index), which Wilder created in 1978 to show the strength of a trend by comparing the current price with the previous price range. The other two are the +DI (positive directional indicator) and the -DI show up as two separate lines, +DI is the difference between the highest price of the current day and the highest price of the day before, and -DI does the same calculation with the current and previous day's lows.

How does it work?
When the ADX line is above 25 (as a general rule, some traders use a different threshold, +/- 5), the trend is strong. When the +DI line is above the -DI line, the asset (stock) is moving in an uptrend, and the opposite means the asset is in a downtrend.

How is this different?

• Uses multiple calculations to produce signals for an indicator than normally doesn't have any.
  
• Multiple ADX's, +DI's, and -DI's for better accuracy and clearer direction changes.
  
• Ability to use 2 different background highlight signals and several buy/sell signals.
  
• Fully customizable (as always), ability to turn on or off any signals, change any of the colors to suit your needs.
  
• Added pre-filled Alerts.
  

The ribbons created by the fill make it easier to see the change in direction of each plot.


The chart should look like:


Cheers,
Mike

(UPRIGHT TRADING)

Feb 7, 2023

Release Notes

Delta DMI v1.5 Update:

• -*New: Delta Technology.
  
• -*New: More Accurate Signal Algo.
  
• -*New: Stochastic shows mini trends.
  
• -*New: Divergences.
  
• -Easier Alerts.
  
• -New layout and look.
  
• -New color scheme.
  

Dec 11, 2023

Release Notes

--Small bug fixes and tweaks.