Directional Positioning Indicator (DPI)

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Directional Positioning Indicator (DPI)

Postby TazmasterT » Sun Feb 24, 2019 10:54 am

Please can you convert the attached indicator to .LUA for workstation.

The DPI is referred to as a Directional Weight Index type of indicator. It weight several pieces of information and evaluates the direction potential of the market.

There are three elements to the DPI:
1 Lead line
2 Follow line
3 Histogram

The lead line if the blue line on the indicator. It is the weight of a slower combination of indicators and will carry some importance.

The follow line is red and is a combination of the quicker changes in the market. It also holds some importance.

The histogram is a series of yellow and red bars that fill the gap between. The yellow bars are bullish and red bearish.

The histogram is the most important part of the indicator and is what I look at first when deciding a trade.

Many thanks
DPI.mq4
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TazmasterT
 
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