D MICE

Free

Developed By: NeeduVerdeSolution

In stock

DMICE is a powerful VertexFX client side VTL indicator that gives approximate entry and exit signals based on the Directional Movement Index (DMI) indicator.

In the first step we calculate the Directional Movement Index (DMI) over the DMI_PERIOD. Then we calculate the Plus DI (+DI) and the Minus DI (-DI) over the DMI_PERIOD.And finally the +DI is smoothed again over the DMI_PERIOD to derive the GREEN +DI signal, and similarly the -DI is smoothed again over the DMI_PERIOD to derive the RED -DI signal.

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DMICE

DMICE is a powerful VertexFX client side VTL indicator that gives approximate entry and exit signals based on the Directional Movement Index (DMI) indicator.

In the first step we calculate the Directional Movement Index (DMI) over the DMI_PERIOD. Then we calculate the Plus DI (+DI) and the Minus DI (-DI) over the DMI_PERIOD.And finally the +DI is smoothed again over the DMI_PERIOD to derive the GREEN +DI signal, and similarly the -DI is smoothed again over the DMI_PERIOD to derive the RED -DI signal.

The concept behind this indicator is that the DMI indicator which is based on High, Low and Closing prices provides detailed information of the trend. In a rising market, the price makes a Higher High, and Higher Low. The Close is typically at the top of the candle near the High. Likewise, the range of the candle is either constant or increasing. As the trend exhausts, the price stops making Higher Highs and Higher Lows. Likewise, the range is decreasing. Thisimportant characteristic is reflected in +DI and -DI indicator components. When the price starts to rise, the +DI becomes strong and rises above zero and above the -DI. Similarly, when the price starts to fall, the -DI becomes strong and rises above zero and above the +DI.

NOTE
The DMICE indicator must be used in conjunction with other trend-following indicators.
BUY
Place Buy position when the GREEN (+DI) line is above zero and above the RED (-DI) line.
SELL
Place Sell position when the RED (-DI) line is above zero and above the GREEN (+DI) line.

Usage

  • Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
  • Copy it to your company VertexFX Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Files
  • Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.

Additional information

Plugin-Type

Client VTL – Custom Indicator

Compatibility

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