OPEN-SOURCE SCRIPT
TheLark: Directional Movement Index Stochastic
There is a nice writeup about a system that uses DMISTO here, which includes decent statistics:
traderedge.net/2013/01/24/combine-indicators-to-identify-high-probability-reversals/
I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar to the system described above, which can be turned off if desired.
traderedge.net/2013/01/24/combine-indicators-to-identify-high-probability-reversals/
I have not yet done any back testing on the system as a whole myself, but thought the DMISTO was an interesting indicator, so ported it over for those who might want to play with it and create their own systems. I added dots that denote signals similar to the system described above, which can be turned off if desired.
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