Recruitment of participants DMI Oscillator Divergence Indicator all-in-one package

DMI Oscillator Divergence Indicator all-in-one package

No matter what kind of strategy you have, timing is one of the most important elements in trading.
Everyone wants to be one step ahead of the game. But how and is it even possible?

A lot of traders rely on DMI Osc indicator and most of them spend their day to stare at the charts for hours and waiting for DMI Osc divergence to happen on current bar. Experienced traders can manage to follow multiple charts at the same time, if you are one of them, you know you have been doing this for years.

Now, imagine an indicator can automatically generate a sound alert whenever there is an DMI Osc Divergence on the chart, if you are away from your computer it can even send you a SMS. This is one step ahead of others.

If you need to watch dozens of symbols at the same time, the chart indicator cannot give signals for all of them unless you open dozens of charts which obviously not an option. In order to get Divergence signals for all symbols in your watchlist, the DMI Osc Divergence Custom Quotes is your best solution. It's capable to show Divergence signals in all timeframes you chose with separate columns. This is another step ahead of others.

If you don't want to wait for the signals to appear on watchlist, the DMI Osc Divergence SCAN makes it possible for you to search the whole market with DMI Osc Divergence together with any other criteria you like to add.
With these three products together, you are a few steps ahead of others.

This DMI Osc divergence Indicator all-in-one package for Thinkorswim includes:
1.DMI Osc Divergence indicator
2.DMI Osc Divergence signals Custom Quotes
3.Advanced DMI Osc Divergence SCAN

1.DMI Osc Divergence indicator

The DMI Oscillator is a technical indicator which uses values of DMI in order to predict miscellaneous sides of market behavior.
Two components of DMI are used in calculation: DI+ and DI-; the DMI oscillator calculates the difference between these components and represents it as both a line and a histogram.

Divergence indicator gives possible reversal signals when there are discrepancies between DMI Oscillator and price movement.

Divergence emerges when price and oscillator indicator move in different directions.

For instance, an uptrend Negative Divergence occurs when price reaches a higher high, but the indicator fails to follow.
In a downtrend, positive divergence occurs when price reaches a lower low, yet the indicator does not reach a lower low.
For the most part, oscillator indicators and price trailing each other and move in the same direction.
However, when they start to drift apart, the current trade may consolidate or exhibit a reverse pattern.

Parameters:

• You can change all DMI Oscillator parameters:
  • DMI Oscillator length: The number of bars used to calculate the DMI Oscillator.
  • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
• Length 1&2: Define the range of bars which are used to calculate the current High/Low and previous High/Low.
• Percent: The difference current High/Low and previous High/Low.
• DMI Oscillator_Percent: The difference between current DMI Oscillator and the DMI Oscillator value from previous High/Low.
• Alert: provide both sound and message alert whenever a divergence is found. You can turn it on or off.
• mode: Choose "Upper" to only plot signal arrows on price chart.
  Choose "lower" it will plot as a DMI Oscillator indicator with divergence signals.

Please note: in order to plot this indicator on both price chart and lower chart, you need to load it in two places. And set mode to "Upper" in Price chart and mode to "lower" in Lower chart. As shown in the following picture.
If you want the same signals on both charts, all parameters have to be consistent on both sides



This indicator works in any time period and applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).
When you use this indicator in minute chart, it's better to set "percent" less than 1, otherwise, lots of signals will be filtered.

2.DMI Osc Divergence signals Custom Quotes

This custom study will help you to quickly identify the DMI Oscillator Divergence signals in the Watchlist.
It will detect all Positive/Negative (bearish/bullish) DMI Oscillator Divergence based on your settings.
The algorithm of this Custom Quotes is same as our DMI Oscillator Divergence indicator.

Parameters:

• 
  
  • You can change all DMI Oscillator parameters:
    • DMI Oscillator length: The number of bars used to calculate the DMI Oscillator.
    • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
  • Length 1&2: Define the range of bars which are used to calculate the current High/Low and previous High/Low.
  • Percent: The difference current High/Low and previous High/Low.
  • DMI Oscillator_Percent: The difference between current DMI Oscillator and the DMI Oscillator value from previous High/Low.
  • Scan in any time frames, 5mins, 15mins, 30mins, 1 day, 1 week, 1 month.
  • Applicable for all securities(Stocks, Futures, Forex, Options, ETF, etc.).

The pictures only show 3 different timeframes.
But you can have all of the timeframes listed on the screen at the same time in different columns.



3.Advanced DMI Osc Divergence SCAN

This customized scanner will find all Positive/Negative (bearish/bullish) DMI Osc Divergence based on your settings.
The algorithm of this SCAN is same as our DMI Osc Divergence indicator.
This Advanced scanner is specially made for experienced traders.

For example, you can search DMI Osc Divergence signals in a short range, such as 15 bars(applicable to any time period).
You can also search in a long range, such as 60 or 100 bars. Furthermore, you can specify the percentage of price change between 2 Highs/Lows and the percentage of DMI Osc value change which are used to find the Divergence.

It makes possible to scan on very complex conditions.

Example 1, scan Negative (bearish) DMI Osc Divergence if current High is the peak within 15 bars, and it's 5% greater than the peak from 25 bars ago. At the same time, the current DMI Osc value is 8% less than the DMI Osc value of that peak from 25 bars ago.

Example 2, scan Positive (bullish) DMI Osc Divergence if current Low is the trough within 5 bars, and it's 3% less than the trough from 15 bars ago. At the same time, the current DMI Osc value is 10% greater than the DMI Osc value of that trough from 15 bars ago.

Features:

• You can change all DMI Osc parameters:
  • DMI Osc length: The number of bars used to calculate the DMI Osc.
  • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
• Length 1&2: Define the range of bars which are used to calculate the current High/Low and previous High/Low.
• Percent: The difference current High/Low and previous High/Low.
• DMI Percent: The difference between current DMI Osc and the DMI Osc value from previous High/Low.
• Scan in any time frames, 5mins, 15mins, 30mins, 1 day, 1 week, 1 month.
• Applicable for all securities(Stocks, Futures, Forex, Options, ETF, etc.).