UnknownUnicorn28067390

DeMarker

Others have published the DeMarker indicator, but with strange styles that make it difficult to read.
I found myself needing to customize my own DeM to be easily readable and pleasant to look at.
I have decided to publish my own version because I believe it is more standard and useful than others I could find.

This DeMarker indicator includes a moving average to get a clear view of where (within the range) the momentum is hovering.
Contrary to it's intended use, I have found the DeMarker most useful in trend continuation trading.
When the DeM is hovering primarily in the upper range (in an uptrend), entries are given confluence when the DeM drops sharply and then crosses up from the lower line at 0.30 .
Vice Versa for Short positions in a downtrend. When DeM is hovering in the lower range, it provides confluence by a sharp move up and then crossing down from above the upper line at 0.70 .

Oversold and Overbought levels are more accurate compared to the RSI , in my experience and testing.
發布通知: Updated Chart Image to only show DeMarker.
發布通知: Updating chart to demonstrate my use of this indicator.
As you can see, the moving average is hovering above the centerline, and sharp dips down are indicating a pullback continuation.
發布通知: The base of this code was created by PasqualeAntonino
I have simply modified the appearance and added a Moving Average.
發布通知: I have added a comparison to the RSI in the chart image.
發布通知: Quick fix.
發布通知: Quick fix.
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