DeMarker Indicator for ThinkorSwim

BenTen

BenTen

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Demarker is an indicator similar to DM+ developed by Welles Wilder. The DM+ (a part of Directional Movement System which includes both DM+ and DM- indicators) indicator helps determine if a security is "trending." The differences between the indicators are in the somewhat different calculation methods.

If the indicator value is over 0.5, the period is suited for buying, if less - for selling. The farther is the value from 0.5, the stronger are the trend dynamics. If the value is within 0.5, the trend is either flattening or going to revert.

Source: https://www.multicharts.com/support/base/miscellaneous-gt-demarker/



thinkScript Code

Code:
# DeMarker Indicator
# Assembled by BenTen at useThinkScript.com
# BenTen also added 0.5 line to the script and removed paintbars
# Converted from https://www.tradingview.com/script/11QwfOay-DeMarker/

declare lower;

input per = 13;
input HV = .4;
input LV = .6;
input MD = .5;

def demax = if high>high[1] then high-high[1] else 0;  
def demin = if low<low[1] then low[1]-low else 0;
def demax_av = simpleMovingAvg(demax, per);
def demin_av = simpleMovingAvg(demin, per);
def dmark = demax_av / (demax_av + demin_av);

plot DeMarker = dmark;
plot upper_line = LV;
plot lower_line = HV;
plot middle = MD;
 
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