 Need help to modify standard Ninjatrader's ADX/DMI indicator formula | Hire a Consultant or Programmer Need help to modify standard Ninjatrader's ADX/DMI indicator formula

Jurong Singapore

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Need help to modify standard Ninjatrader's ADX/DMI indicator formula

Hi

I am looking to create a variant of the usual ADX/DMI.

From wikipedia,

Quoting
 The ADX is a combination of two other indicators developed by Wilder, the positive directional indicator (abbreviated +DI) and negative directional indicator (-DI). The ADX combines them and smooths the result with an exponential moving average. To calculate +DI and −DI, one needs price data consisting of high, low, and closing prices each period (typically each day). One first calculates the directional movement (+DM and −DM): UpMove = today's high − yesterday's high DownMove = yesterday's low − today's low if UpMove > DownMove and UpMove > 0, then +DM = UpMove, else +DM = 0 if DownMove > UpMove and DownMove > 0, then −DM = DownMove, else −DM = 0 After selecting the number of periods (Wilder used 14 days originally), +DI and −DI are: +DI = 100 times exponential moving average of +DM divided by average true range −DI = 100 times exponential moving average of −DM divided by average true range The exponential moving average is calculated over the number of periods selected, and the average true range is an exponential average of the true ranges. Then: ADX = 100 times the exponential moving average of the absolute value of (+DI − −DI) divided by (+DI + −DI) Variations of this calculation typically involve using different types of moving averages, such as a weighted moving average or an adaptive moving average.

The idea is to change the EMA/Wilder's calculation of the ninjatrader's ADX/DMI with another moving average of my specification (I will provide the MA script), or allowing multiple moving averages to be modularly used (depends on my budget) of +DI, -DI, True Range and ADX calculations.

Cheers

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