Directional Movement Indicator

The "Directional Movement Indicator" has 3 components: +DI, -DI and ADX.

Calculation

First, we have to determinate DeltaH and DeltaL, by using the following formulas:

After this, we can calculate PDMI and MDMI.

These elements will be used to determine the 3 components of "Directional Movement Indicator" (-DI, +DI and ADX). To see how, read the following lines:

From "Indicator Properties" you can change the settings for indicator:

You can set line thickness, color and style for each component. The "Price" used in the construction of indicator can be: Close, Open, High, Low, HL MidPoint, HLC MidPoint or HLCO MidPoint. From "Length" you can change the number of points that are used in the moving average.

Directional Movement Indicator indicator on ESZ07 chart