Tushar Chande’s DMI (with RSX)

v10.3
Tushar Chande’s DMI (with RSX)

An indicator used in technical analysis that determines the overbought and oversold conditions of a particular asset. This indicator is very similar to the Relative Strength Index (RSI). The main difference between the two is that the RSI uses a fixed number of time periods (usually 14), while the Dynamic Momentum Index uses different time periods as volatility changes.

This indicator is interpreted in the same manner as the RSI where the readings below 30 are deemed to be oversold and more than 70 levels are deemed to be overbought. The number of time periods used in the dynamic momentum index decreases as the volatility of the underlying asset increases, making this indicator more sensitive to price changes than the RSI. This version has an additional smoothing in an RSX usage form for calculating the original RSI pitch. It has been added to make it a little more readable. The DMI Chande is less smooth than this original version and can raise more false signals. Using the RSX instead of RSI not add any lag at all, so we can say that using an RSX instead of RSI could be classified as “1% improvement” rule – which is sure it not be worse than the original Chande’s DMI.

(description found on internet). Indicator translated from Metatrader5 version by a request in forum.

Settings explanation:

_ MAStdDevMode : moving average type for smoothing the ATR value used to get the volatility of the current instrument

_ DmiLowerLimit & DmiUpperLimit : bounds for DMI periods (DMI calculated period can’t be less or more than these 2 limits)

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. macbartin • 29 days ago #

    Bonjour, merci pour l’indicateur, j’utilise un RSI de 7 période, sur du 1 min, est’il possible de changer sa base de période ? si oui comment faire ? merci encore j’avais pas pensé que le RSI pouvait avoir du retard !

    • Nicolas • 29 days ago #

      Changer la base de périodes du RSI original ? Le RSI a du “retard” puisqu’il est toujours nécessaire d’évaluer le terrain (et donc de regarder le passé) pour donner l’information sur la bougie courante.

    • macbartin • 29 days ago #

      merci, je voulais savoir quel paramètre il faut modifier sur votre indicateur pour le modifier sur la période 7 de votre indicateur

    • Nicolas • 29 days ago #

      Cet indicateur est dynamique, il n’utilise pas de période fixe

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