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.
# 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 then high-high else 0; def demin = if low<low then low-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;