Directional Movement Oscillator

The Directional Movement Oscillator (DMO) is an adaption to the Directional Movement Index (DMI).
The difference is that DMO is one line, whereas DMI has 3 lines: +DI,-DI, and ADX.
The DMO line calculation: DMO = (+DI) - (-DI)
I excluded the ADX in DMO because its completely useless.
Try this indicator out, good luck ;)

-racer8

Release Notes:

This DMO has a zero line

Release Notes:

rma-based instead of sma based now.

Release Notes:

Minor Changes

Release Notes:

Changed name of "length" and updated pic

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New update guys: updated the oscillator by adding a second line, the ma line (Red).
How to interpret signals:
yellow above red = uptrend
yellow below red = downtrend

Release Notes:

a

Release Notes:

>>>
DMO now has 2 colors!