DMI Oscillator & DMI Stochastic(S&C Jan 2013)

[maz100]

Fine tune Extra's to enhance indicator(s)

Can anyone help to fine tune this code on this attached Indicator(s)?
By doing: -
1. Make Thicker and/or Bolder X's
2. Draw Thicker "RED" Resistance lines (for where resistance occurs). ie. where the DMI Stochastic Extreme is below the 10 level
3. Draw Thicker "Blue" Support lines (for where Support occurs). ie. where the DMI Stochastic Extreme is above the 90 level
4.Thin black line at 0 level on DMI Oscillator

I am not sure which of the 2 indicators need to be "worked on"; but both needed to be used by a trader to make trades effective (See January 2013 stock's and commodities article "DMI Stochastic" by Dr.Barbara Star)

The tweaks/adjustment will enhance this indicator for any trader.
Note: The best minimum time frame for this indicator is 60 mins for intraday traders, or very short-term trades (profitable) deals

[maz100]

I was using incorrect Indicators

Hi Lance

You were correct, I was looking at the old Ninja scripts. I deleted them and downloaded again from the Zip file and all is OK now.

This is a massive improvement, so very well done!

If possible, please fine tune the code to visually improve it by the following :-

1. Make Thicker and/or Bolder X's
2. Draw Thicker "RED" Resistance lines (for where resistance occurs). ie. where the DMI Stochastic Extreme is below the 10 level
3. Draw Thicker "Blue" Support lines (for where Support occurs). ie. where the DMI Stochastic Extreme is above the 90 level
4. Thin black line at 0 level on DMI Oscillator

See attached GBP 60m Forex spot chart as an example.
Much appreciated

[NinjaTrader_Lance]

Hello,

Before I investigate this further could you please update your DMIOscillator to the one Bertrand posted?

It looks as though the one in your screen shot is using the old file.

First delete the existing files by going to tools -> edit ninjascript -> indicator -> select both files and press delete

Then go to file -> utilities -> import ninjascript -> choose the zip file provided

[maz100]

Incorrect placement of "X" on valid Sell signals

Hi Bert

The code for the Sell Signals is the opposite way around and therefore incorrect.

1. When a Sell signal is generated and the DMI Oscillator is above the centre line, then this is an incorrect place to enter a trade - But no X is shown below it's related price bar - but an X should be drawn - preferably below it's related price bar.

2.When a Sell signal IS generated and the DMI Oscillator is below the centre line, an X is place above the price bar in question. This is an incorrect (placement of) "X". This a valid Sell signal and an X should NOT be placed (above or below) the related price bar.

See attached screen shot for narrative and clarification.

When fixing this Indicator, if possible, please could you make a bolder (more clearer) "X", and the existing ones are hard to see (visually)

Also, please allow the user to draw two lines on the DMI Oscillator study at + and - 20 (variable figure to be chosen) - as written in thread title "Parameter for a Plus and Minus line on DMI Oscillator for Counter-Trend Trades" below.

Much appreciated Bert and Ninja Indicator Development Team

[NinjaTrader_Bertrand]

maz100, thanks for posting this report here. We have looked into and updated both scripts, please give the attached zip a run on your end.

[maz100]

Parameter for a Plus and Minus line on DMI Oscillator for Counter-Trend Trades

Hi Patrick,

While you are passing on the information to the development team; please ask then to add a parameter in the DMI Oscillator at + and - 20. As this is the region that alerts traders for potential Counter-Trend (CT) trades, as mentioned in the article.
Please allow this number to be changed by the user as he/she may be more comfortable with a bigger number, Eg. + and - 23. for higher probabilities of a CT move.

The number should be the same (uniform) for both above and below the line, and not different for each. ie. +20 and -22

Much appreciated

[NinjaTrader_PatrickH]

Hello maz100,

Thank you for your post.

I will share this information with our development team, and follow up with any details I receive here.

[maz100]

There seems to be a small error in the DMI Oscillator & DMI StochasticExtreme written by the Ninja Development support team for the article in January's 2013 issue of the stocks and commodities magazine, by Dr. Barbara Star.

I emailed Dr. Barbara Star to clarify if there was indeed an error in the indicator, and she did confirm this. The error happens to be on the Short signals, while the Long signals are working OK.

The Issue is when a Buy signals is generated, and the DMI Oscillator is BELOW the centre line - then a "X" is marked on that bar - In the code this means "Do Not Enter", This Dr. Star agrees with. However, the Sell Signals in generated - when the DMI Oscillator is ABOVE the centre line - the "X" doe NOT appear on the chart.

Could the Development team address this so the X's appear when Sell signals occur - when they occur when they DMI Oscillator is above the centre line.

Dr. Star mentioned that ".....the horizontal lines above and below the price bars were not part of the code I provided. I manually drew them in mainly to illustrate support and resistance"
However, these have been included in the either the one of the DMI Oscillator & DMI Stochastic code, and this is an excellent foresight of the Ninja Development team. To have this automated is a real bonus to a trader's eye! Well done!
Attached is the DMI Oscillator & DMI StochasticExtreme indicators and a 60m screen shot as an example