ridvansozen1

DPD INDICATOR (DEMA PRICE DİFFERENCE PERCENTAGE )

I use DEMA and Price difference in many strategies and and trade.


Finally , ı wanted to build an indicator for relation between them.


It calculates the percentage of difference between price and dema and estimates deviation from the main trend.

Formula = (price-dema)/price*100

There is some parameters;

DEMA Length is length of dema , ı think 50 is good enough,

there is upper and lower band for DPD Score .

You can change it based on volatilities of your pairs to find an optima.

and use it to be sure about your entry point.


I will developed and combine DPD with some other indicators and build strategies with it.

You can be part of that , I am waiting for your feedback.

Stay in Touch :)
Release Notes: Correction
Release Notes: Correction
Open-source script

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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Comments

I added signals when price crosses up or down the upper and lower band (have set it a little closer to eachother.) Only buying low and sell high gives less and good signals but then have to use a stop loss or even better not to buy when the trend is going down. I can't program it but this are some idea's of mine :)
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@dpanday, It is a just indicator to combine others easily.In time,I will code DPD with others.If you have an suggestion or wish, you can tell me wheneveryou want :)
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Hey, maybe it's possible to smoothen the line and set alerts for buy and sell at overbought oversold levels or indeed combine it with other indicators. I'm looking forward to it!
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@dpanday, as soon as, I will make smoothed version ,I did not think that, it may be great :)
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