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Dynamic Momentum Index (DYMI)
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The Dynamic Momentum Index (DYMI) indicator is very similar to Relative Strength Index (RSI). The only difference is that DYMI uses variable time periods (from 3 to 30) while RSI has a fixed number of them (usually 14). Controlling the number of time periods, DYMI becomes more sensitive to shortterm moves than RSI: the more volatile the price, the shorter the time period is.
DYMI = RSI = 100  100/1 + RS
Std_{A} = MA_{10} of Std_{C5}
V_{i} = Std_{C5}/Std_{A}
_{}_{}T_{D }= INT (14/V_{i})
where:
RS – Relative Strength value, requires a look back period which changes in DYMI
Std_{ }–_{ }standard deviation value used to calculate the number of periods in DYMI
T_{D} – dynamic length, defines how many periods to use for each RS value
MA_{1}_{0} – 10period Simple Moving Average
Std_{C5} – fiveday standard deviation of closing prices
INPUTS
Price 

The following data sources are available for calculation of DYMI:

Input  Description 

StDevLength  The number of periods used to calculate the standard deviation value 
StDevAverageLength  The number of periods used to calculate the moving average of standard deviation 
DynamicLength  The number of periods used to calculate each RS value 
MinDynamicLength  The minimum number of periods used to calculate DynamicLenght 
MaxDynamicLength  The maximum number of periods used to calculate DynamicLength 
Overbought  The price value to fix the overbought level at 
Oversold  The price value to fix the oversold level at 
PLOTS
The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.
Plot  Description 

DYMI  The DYMI plot 
OverBought  The overbought level 
OverSold  The oversold level 
Color 

Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color. To create a custom color:
The customcreated colors are added to your palette. To remove a custom color, drag it out of the palette. 
Weight 
Change the value (in px) to adjust the thickness of the plot. 
Type 
The following plot types are available:

OVERLAYING
Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.