DMI Oscillator SE (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 above to below, triggers a short entry. |
Usage
Short entry based on the value of the DMI oscillator crossing from above to below 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 short entry order when the DMI oscillator's value crosses the user-specified trigger level from above. A market order is placed when the crossunder 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 short entry to be generated (TriggerLevel).
Order Name: DMIO SE
Related Strategy: DMI Oscillator LE
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).