There is a nice writeup about a system that uses DMISTO here, which includes decent statistics:
traderedge.net/2013/...obability-reversals/
I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar to the system described above, which can be turned off if desired.
traderedge.net/2013/...obability-reversals/
I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar to the system described above, which can be turned off if desired.
study(title="TheLark: Directional Movement Index Stochastic", shorttitle="DMISTO_LK", overlay=false)
//•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//
// //
// DMISTO BY THELARK //
// ~ 8-4-14 ~ //
// //
// •/• //
// //
// https://www.tradingview.com/u/TheLark //
// //
//•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//
// Wells Wilders MA
wwma(l,p) =>
wwma = (nz(wwma[1]) * (l - 1) + p) / l
// Inputs
DMIlength = input(10,title="DMI Length")
Avglength = input(3, title="Avg Length")
ShowDots = input(true)
ob = input(90,title="Over Bought")
os = input(10,title="Over Sold")
// Osc Calc
hiDiff = high - high[1]
loDiff = low[1] - low
plusDM = (hiDiff > loDiff) and (hiDiff > 0) ? hiDiff : 0
minusDM = (loDiff > hiDiff) and (loDiff > 0) ? loDiff : 0
ATR = wwma(DMIlength, tr)
PlusDI = 100 * wwma(DMIlength,plusDM) / ATR
MinusDI = 100 * wwma(DMIlength,minusDM) / ATR
osc = PlusDI - MinusDI
// STO
hh = highest(osc,DMIlength)
ll = lowest(osc,DMIlength)
sto = 100 * (osc-ll) / (hh-ll)
kslow = sma(sto, Avglength)
perd = sma(kslow,Avglength)
// Plots
plot(ob,color=gray)
plot(os,color=gray)
plot(ShowDots ? kslow[1] < perd[1] and kslow > perd and perd < os ? os : na : na,style=circles,color=lime,linewidth=2)
plot(ShowDots ? kslow[1] > perd[1] and kslow < perd and perd > ob ? ob : na : na,style=circles,color=orange,linewidth=2)
plot(kslow, color=#0EAAEF,title="DMISTO-slow",linewidth=1)
plot(perd, color=red,title="DMISTO-slow",linewidth=1)
//plot(sto, color=#0EAAEF,title="DMISTO",linewidth=1)