OPEN-SOURCE SCRIPT
Smoothed Directional Movement Index
This indicator is a variation of the default DMI indicator, the main difference being that the signals are smoothed by SMAs.
It also has additional bullish (green) and bearish (red) background coloring which would be noisy on a standard DMI indicator.
If both lines converge it is bullish, otherwise bearish.
Increase / decrease the threshold should you want more conservative / optimistic background coloring.
It also has additional bullish (green) and bearish (red) background coloring which would be noisy on a standard DMI indicator.
If both lines converge it is bullish, otherwise bearish.
Increase / decrease the threshold should you want more conservative / optimistic background coloring.
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