Download: demarker.ela
File Includes: Indicator - Demarker
Category: Indicator > Miscellaneous
Description:
Demarker is an indicator similar to DM+ developed by Welles Wilder. The DM+ (a part of Directional Movement System which includes both DM+ and DM- indicators) indicator helps determine if a security is "trending." The differences between the indicators are in the somewhat different calculation methods.
Usage:
If the indicator value is over 0.5, the period is suited for buying, if less - for selling. The farther is the value from 0.5, the stronger are the trend dynamics. If the value is within 0.5, the trend is either flattening or going to revert.
Inputs:
Length - specifies the number of bars to consider
EasyLanguage Code:
INPUTS: LENGTH(13);
IF HIGH > HIGH[1] THEN VALUE1 = HIGH - HIGH[1] ELSE VALUE1 = 0;
IF LOW > LOW[1] THEN VALUE2 = 0 ELSE VALUE2 = LOW[1] - LOW;
IF VALUE1 + VALUE2 > 0 THEN VALUE3 = AVERAGE(VALUE1,LENGTH) /
AVERAGE(VALUE1 + VALUE2, LENGTH);
PLOT1(VALUE3,"DEMARKER");