Chande's DMI (Dynamic Momentum Index) - MetaTrader 5 Script - MT4/MT5 Resources
The Dynamic Momentum Index (DMI) is a variable RSI. When using the default values, the RSI term varies between 3 and 30. The variable time period makes the RSI more sensitive to short-term fluctuations. The greater the price fluctuation, the shorter the time period. It is interpreted in the same way as RSI but provides signals earlier.
The Dynamic Momentum Index was developed by Tushar S. Chande and Stanley Kroll and described in their 1994 book The New Tech Trader.
This version is identical to the original version described in "New Tech Trader".
Attachment download
📎 chandes_dmi.mq5 (20.47 KB)
Source: MQL5 #20177
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