Hi, the text in the first attachement tells the working of this indicator.
The code of TradeStation is here below. This is from http://traders.com/Documentation/FEEDbk_Docs/2012/11/TradersTips.html
This page shows more TAC-DMI codes from trading software programs.
The EasyLanguage code is:
_TAC_3x_ADX ( Indicator )
{ Identify the Start of a Trend With DMI }
{ Technical Analysis of Stocks and Commodities,
November 2012 }
{ BC Low, CMT }
inputs:
ADXLength1( 3 ),
ADXLength2( 4 ),
ADXLength3( 5 ),
HiRefLevel( 70 ), { high reference level }
LoRefLevel( 30 ) ; { low reference level }
variables:
ADX1( 0 ),
ADX2( 0 ),
ADX3( 0 ) ;
{ calculate the 3 ADX values }
ADX1 = ADX( ADXLength1 ) ;
ADX2 = ADX( ADXLength2 ) ;
ADX3 = ADX( ADXLength3 ) ;
{ plot the ADX values and reference levels }
Plot1( ADX1, “ADX1” ) ;
Plot2( ADX2, “ADX2” ) ;
Plot3( ADX3, “ADX3” ) ;
Plot4( HiRefLevel, “Hi Ref” ) ;
Plot5( LoRefLevel, “Lo Ref” ) ;
_TAC_3x_+DI ( Indicator )
{ Identify the Start of a Trend With DMI }
{ Technical Analysis of Stocks and Commodities,
November 2012 }
{ BC Low, CMT }
inputs:
DMIPlusLength1( 5 ),
DMIPlusLength2( 8 ),
DMIPlusLength3( 14 ),
HiRefLevel( 50 ), { high reference level }
LoRefLevel( 10 ) ; { low reference level }
variables:
DMIPlus1( 0 ),
DMIPlus2( 0 ),
DMIPlus3( 0 ) ;
{ calculate the 3 +DMI values }
DMIPlus1 = DMIPlus( DMIPlusLength1 ) ;
DMIPlus2 = DMIPlus( DMIPlusLength2 ) ;
DMIPlus3 = DMIPlus( DMIPlusLength3 ) ;
{ plot the +DMI values and reference levels }
Plot1( DMIPlus1, “+DMI 1” ) ;
Plot2( DMIPlus2, “+DMI 2” ) ;
Plot3( DMIPlus3, “+DMI 3” ) ;
Plot4( HiRefLevel, “Hi Ref” ) ;
Plot5( LoRefLevel, “Lo Ref” ) ;
_TAC_3x_-DI ( Indicator )
{ Identify the Start of a Trend With DMI }
{ Technical Analysis of Stocks and Commodities,
November 2012 }
{ BC Low, CMT }
inputs:
DMIMinusLength1( 5 ),
DMIMinusLength2( 8 ),
DMIMinusLength3( 14 ),
HiRefLevel( 50 ), { high reference level }
LoRefLevel( 10 ) ; { low reference level }
variables:
DMIMinus1( 0 ),
DMIMinus2( 0 ),
DMIMinus3( 0 ) ;
{ calculate the 3 -DMI values}
DMIMinus1 = DMIMinus( DMIMinusLength1 ) ;
DMIMinus2 = DMIMinus( DMIMinusLength2 ) ;
DMIMinus3 = DMIMinus( DMIMinusLength3 ) ;
{ plot the -DMI values and reference levels }
Plot1( DMIMinus1, “-DMI 1” ) ;
Plot2( DMIMinus2, “-DMI 2” ) ;
Plot3( DMIMinus3, “-DMI 3” ) ;
Plot4( HiRefLevel, “Hi Ref” ) ;
Plot5( LoRefLevel, “Lo Ref” ) ;