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Dynamic Momentum Range Index (DMRI)//@version=5 indicator("Dynamic Momentum Range Index (DMRI)", shorttitle="DMRI", overlay=false) // Inputs n = input.int(14, title="Momentum Period", minval=1) atrLength = input.int(14, title="ATR Length", minval=1) maLength = input.int(20, title="Moving Average Length", minval=1) // Calculations pm = close - close // Price Momentum (PM) atr = ta.atr(atrLength) // Average True Range (ATR) va = pm / atr // Volatility Adjustment (VA) // Moving Average and Dynamic Range Factor (DRF) ma = ta.sma(close, maLength) drf = math.abs(close - ma) / atr // Dynamic Momentum Range Index (DMRI) dmri = va * drf // Normalization maxVal = ta.highest(dmri, atrLength) minVal = ta.lowest(dmri, atrLength) dmriNormalized = (dmri - minVal) / (maxVal - minVal) * 100 // Zones for Interpretation bullishZone = 70 bearishZone = 30 // Plotting DMRI plot(dmriNormalized, title="DMRI", color=color.blue, linewidth=2) hline(70, "Overbought", color=color.red) hline(30, "Oversold", color=color.green) hline(50, "Neutral", color=color.gray) // Background Coloring bgcolor(dmriNormalized > bullishZone ? color.new(color.green, 90) : na, title="Bullish Zone Highlight") bgcolor(dmriNormalized < bearishZone ? color.new(color.red, 90) : na, title="Bearish Zone Highlight")
Indicatore Pine Script™
di AlphaWaveTrader
Dynamic Momentum Range Index (DMRI)//@version=5 indicator("Dynamic Momentum Range Index (DMRI)", shorttitle="DMRI", overlay=false) // Inputs n = input.int(14, title="Momentum Period", minval=1) atrLength = input.int(14, title="ATR Length", minval=1) maLength = input.int(20, title="Moving Average Length", minval=1) // Calculations pm = close - close // Price Momentum (PM) atr = ta.atr(atrLength) // Average True Range (ATR) va = pm / atr // Volatility Adjustment (VA) // Moving Average and Dynamic Range Factor (DRF) ma = ta.sma(close, maLength) drf = math.abs(close - ma) / atr // Dynamic Momentum Range Index (DMRI) dmri = va * drf // Normalization maxVal = ta.highest(dmri, atrLength) minVal = ta.lowest(dmri, atrLength) dmriNormalized = (dmri - minVal) / (maxVal - minVal) * 100 // Zones for Interpretation bullishZone = 70 bearishZone = 30 // Plotting DMRI plot(dmriNormalized, title="DMRI", color=color.blue, linewidth=2) hline(70, "Overbought", color=color.red) hline(30, "Oversold", color=color.green) hline(50, "Neutral", color=color.gray) // Background Coloring bgcolor(dmriNormalized > bullishZone ? color.new(color.green, 90) : na, title="Bullish Zone Highlight") bgcolor(dmriNormalized < bearishZone ? color.new(color.red, 90) : na, title="Bearish Zone Highlight")
Indicatore Pine Script™
di AlphaWaveTrader