sharp vision traders

On some level, the Enhanced Dynamic Momentum Index  indicator looks very similar to the relative strength index (RSI) indicator. However, the internals of the Dynamic Momentum Index differ widely. The inputs consist of lookback to estimate standard deviation, typical market lookback, volatile market lookback, and quiet market lookback period. This granularity may allow for a fit for purpose momentum indicator with the caveat that some understanding of how a particular instrument typically behaves will need to be factored in when setting the periods.

The indicator will behave based on the input provided by the user. It needs to be understood that in a volatile market the indicator becomes more sensitive to price fluctuations while in quiet intervals price sensitivity is reduced. This is the perceived advantage of utilizing this indicator.

As with all of our indicator, the user will have the option to adjust several periods and internal averages.

Features:

• Option to adjust several lookback periods utilized internally.
• Several averaging methods to choose from are available.
• Further smoothing functions are embedded.
• Option to adjust the value of overbought and oversold limits.
• Option to color curve based on value.
• Shade options available for the oversold and overbought regions.

Review the screenshots and the video for setup and demonstration of usage.