DMI Stochastic Extereme — Indicator by UDAY_C_Santhakumar

USed the DMI Oscillator created by LARK " " to create this DMI Stochastic Extreme. You can also use the DMI Stochastic by Lark

TheLark: Directional Movement Index Stochastic

Updated Version -

Uday C Santhakumar

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

study(title="DMI Stochastic Extreme", shorttitle="DMI-Stochastic", overlay=false)
// Wells Wilders MA
wwma(l,p) =>
    wwma = (nz(wwma[1]) * (l - 1) + p) / l

// Inputs
DMIlength = input(10)
Stolength = input(3)

// DMI 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

// DMI Stochastic Calc
hi = highest(osc, Stolength)
lo = lowest(osc, Stolength)

Stoch = sum((osc-lo),Stolength) / sum((hi-lo),Stolength) *100
plot(Stoch, color = white, title = 'Stochastic', linewidth = 2, style = line)

p0 = 0
p1 = 100
p2 = 90
p3 = 10

crossUp = Stoch[1] < 10 and Stoch >10 ? 1 : 0
crossDown = Stoch[1] > 90 and Stoch < 90 ? 1 : 0

//crossP3 = cross(Stoch,p3)

//circleYPosition = crossP3
//circleYPosition = p3
//circleYPosition_l = p2

plot (p3, color = red, linewidth = 1, title = 'Over Bought')
plot (p2, color = green, linewidth = 1, title = 'Over Sold')

//plot(crossUp and crossP3 ? circleYPosition : na, color = green, style = cross, linewidth = 4, title='Long')
//plot(crossUp ? circleYPosition : na, color = green, style = cross, linewidth = 4, title='Long', offset=-1)
//plot(sd and cross_down and cross(sma(ac, 1), achm) ? circleYPosition : na,style=cross, linewidth=6, color=fuchsia)
//plot(crossDown ? circleYPosition_l : na,style=cross, linewidth=6, color=fuchsia, offset=-1)

//plot(cross(Stoch,p2) ? Stoch : na, color = Stoch < p2 ? red : na, style = cross, linewidth = 4, title='Short')

plotchar(crossUp, title="i", char='B', location=location.bottom, color=green, transp=0, offset=0)
plotchar(crossDown, title="Gann Swing Low Plots-Triangles Up Bottom of Screen",char='S', offset=0, location=location.top, color=red, transp=0)