Dynamic Momentum Index (DMI) is an RSI with a changing period. The RSI period fluctuates between 3 and 30 when using default settings. Period changeability makes RSI more responsive to short-term price movements. The higher the price volatility, the shorter the period. The indicator is interpreted in the same way as the RSI, but signals appear earlier.
The indicator view in the chart.
The indicator has the following parameters:
Relative strength index
Period - setting of the RSI period by default.
Minimal Period - setting of the minimal period for RSI.
Maximal Period - setting of the maximal period for RSI.
Period - setting of the Standard deviation period.
SMA Period - setting of the moving average period.
Source - setting of the indicator calculation parameters:
Panel - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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