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Note: This download requires NinjaTrader 8 release 8.1.3 or newer.

The DMI Stochastic Extreme indicator offers a novel method for analyzing the Directional Movement Index (DMI) by incorporating a momentum detection technique known as stochastic. This approach aims to measure momentum based on current trends. At its core, the DMI Stochastic Extreme seeks to refine the traditional use of the DMI by adding a layer of momentum analysis. The stochastic component of the indicator helps in identifying overbought and oversold conditions, which, when combined with the DMI, offers a better view of market direction and strength. However, it's important to note that, like all indicators, the DMI Stochastic Extreme can produce false signals. To mitigate this, traders often use it in conjunction with the DMI Oscillator. The DMI Oscillator can help smooth out the volatility and provide a clearer picture of the market's direction.

 We have packed this indicator with many features in terms of customized internal calculations and visual customization.

DMI Stochastic Extreme Features:

• DMI internal customization in terms of period to utilize and custom internal averaging.
• Option to customize Stochastic measure of high and low periods.
• Option to customize Stochastic' s summation calculation in terms of period utilized.
• Custom determination of overbought and oversold zone levels.
• Custom Buy/Sell signal colors.

Review the screenshots below for setup and potential strategy options. 

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