OPEN-SOURCE SCRIPT
Market Direction Indicator [LazyBear]
Market Direction Indicator (MDI), by Donald Lambert, is an extension of simple moving average cross over systems. Series of price cross over points are determined to derive MDI.
Note that the short/long lengths will differ between instruments. They need to be tuned properly.
I have added an option to specify a "cutoff" parameter. When MDI is in the cutoff zone (-/+ cutoff), bars are colored gray. Set this to zero to turn off cutoffs.
Other options:
- OverlayMode: Enable this to color bars. MDI values are not plotted. If unchecked, MDI default rendering mode is Histogram mode.
- ShowBelowZero: Plots the negative values below zero (Oscillator mode)
Use "MDI" and "ZeroLine" for setting up alerts. Make sure MDI is in OscillatorMode.
Master list of all my indicators:
docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
Note that the short/long lengths will differ between instruments. They need to be tuned properly.
I have added an option to specify a "cutoff" parameter. When MDI is in the cutoff zone (-/+ cutoff), bars are colored gray. Set this to zero to turn off cutoffs.
Other options:
- OverlayMode: Enable this to color bars. MDI values are not plotted. If unchecked, MDI default rendering mode is Histogram mode.
- ShowBelowZero: Plots the negative values below zero (Oscillator mode)
Use "MDI" and "ZeroLine" for setting up alerts. Make sure MDI is in OscillatorMode.
Master list of all my indicators:
docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Script de código aberto
No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
Quer usar esse script no gráfico?
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Aviso legal
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