Directional Oscillator

The directional movement oscillator converts the two lines of the DMI (Directional Movement Index) into a single oscillator that fluctuates above and below zero. A directional movement oscillator is calculated by subtracting the -DI from the +DI.

If +DI is greater than -DI, the directional movement oscillator value is positive. If +DI is less than -DI, the value is negative.

The signals provided by the directional movement oscillator and the DMI are identical.

For more information on the DMI study and its formula, see Directional Movement Index.

Parameters

Parameter

Function

Color

Default color is yellow. To change the color, click on the color button:

Then choose the color you want from the Color Menu.

Graph

Sets the drawing method for the study.

Option	Function
Bars	Renders the study as bars.
Dots	Renders the study as dots.
Dotted	Renders the study as dots.
Histogram	Renders the study as a histogram drawn from 0.
Line (Default)	Renders the study as a line.
Not Drawn	The study is not rendered.

Line Style

Sets the rendering technique of the graph parameter (if it is set to Line).

Option	Function
Dash-Dot	--l-l-l-l-l-l-
Dash-Dot-Dot	----ll----ll----
Dashed	- - - - - - - - - - - - - - -
Dotted	llllllllll
Solid (Default)	-------------------------

Line Width

Sets the tickness of the study line.

Option	Function
1 pixel (Default)
2 pixels
3 pixels
4 pixels
5 pixels

Period

Default is 14

Notes

See, notes on Directional Indicator.

see, J. Welles Wilder Jr., New Concepts in Technical Trading Systems, McLeansville, NC: Trend Research, 1978.