Description
This is a oscillator inidcator for cTrader.
The Relative Strength Index (RSI) is one of the most popular indicators, but its weakness is its inability to respond to changes in volatility and market momentum. The Variable Length Dynamic Momentum Index (VLDMI) makes it possible to flexibly respond to ever-changing market conditions by fluctuating the RSI calculation period in accordance with market momentum.
The VLDMI serves the same purpose as the RSI, which indicates overbought or oversold conditions that could lead to a market reversal. If the price reaches the 70or80 level, it is considered as overbought and we may trade short at that level. On the contrary, if it reaches the 20or30 level, it is considered as oversold and we may trade long. Of course, that's not all, VLDMI has all the same properties as RSI, including divergence.
(The latest USDJPY h1 chart at the time of release)
In addition, The Traders Dynamic Index (TDI), which is not available in the previous VLDMI, has been developed. TDI is a very well-known and popular indicator and you will find many functional strategies on various websites.
(The latest USDJPY h1 chart at the time of release)
Parameter Description------------------------
・Source
Specify the data source for the calculation. In addition to prices such as the ClosePrices, indicator values are also available.
・Period
The basic value of the calculation period. Change it to suit your trading style.
・Deviation Period, SMA Period
These are the numbers used in the calculation. Basically, you don't need to change it, but you can change it if you like.
・Variable Period Min
The minimum value of the variant of the period used in the calculation. It should be set to be smaller than "Period".
・Variable Period Max
The maximum value of the variant of the period used in the calculation. It should be set to be larger than "Period".
・TDI Mode
You can switch between VLDMI mode and TDI mode.
・Border Level
You can set the overbought/oversold level, with a value between 20 and 30 being recommended.
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Notice
It does not guarantee any particular outcome or profit of any kind. Please enjoy trading at your own risk.
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© 2020, Taro Yamada, taro.yamada.forex@gmail.com
We can also take orders for algorithm development.
Please feel free to contact us.
Download from here
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;
namespace cAlgo
{
[Indicator(IsOverlay = false, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class VLDMILink : Indicator
{
protected override void Initialize()
{
ChartObjects.DrawText("VLDMI Link", "Download : https://gum.co/ENnvu", StaticPosition.Center, Colors.Red);
}
public override void Calculate(int index)
{
// Calculate value at specified index
// Result[index] = ...
}
}
}
akamanbow3
Joined on 17.09.2020
- Distribution: Paid
- Language: C#
- Trading platform: cTrader Automate
- File name: VLDMI Link.algo
- Rating: 5
- Installs: 1236
- Modified: 13/10/2021 09:54
