DMI Oscillator LE (Strategy)
DisclaimerInput Information
| Name | Type | Default | Description |
| Length | Numeric | 10 | Number of bars used to calculate the DMI oscillator's value. |
| TriggerLevel | Numeric | 0 | The level of the DMI oscillator that, when crossed from below to above, triggers a long entry. |
Usage
Long entry based on the value of the DMI oscillator crossing from below to above a trigger level.
Description
J. Welles Wilder introduced the directional movement index (DMI). The DMI Oscillator is the difference between DMI Plus and DMI Minus values.
This strategy generates a long entry order when the DMI oscillator's value crosses the user-specified trigger level from below. A market order is placed when the crossover occurs.
You can change the number of bars used to calculate the DMI oscillator's value. You can also change the level of the DMI oscillator that causes a long entry to be generated (TriggerLevel).
Order Name: DMIO LE
Related Strategy: DMI Oscillator SE
Related Indicator: DMI Oscillator
Related Function(s): DMIOsc
References
Star, Barbara. "The DMI Stochastic", Technical Analysis of Stocks and Commodities (31), January, 2013.
Wilder, J. Welles, Jr. New Concepts in Technical Trading Systems (Greensboro, NC: Trend Research, 1978).