The Directional Movement Oscillator (DMO) is an adaption to the Directional Movement Index (DMI). The difference is that DMO is one line, whereas DMI has 3 lines: +DI,-DI, and ADX. The DMO line calculation: DMO = (+DI) - (-DI) I excluded the ADX in DMO because its completely useless. Try this indicator out, good luck ;)
-racer8
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This DMO has a zero line
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rma-based instead of sma based now.
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Minor Changes
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Changed name of "length" and updated pic
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New update guys: updated the oscillator by adding a second line, the ma line (Red). How to interpret signals: yellow above red = uptrend yellow below red = downtrend