If anyone's still interested in this method, I downloaded the DAS Pro Demo (the front end for realfasttrader.com mentioned by the OP) and was able to duplicate the exact movements of the DAS Pro "DMI 15" indicator by creating a DYO indicator in Ensign Windows.
In Ensign, and I suspect most apps, the actual setting for the PDI & MDI lines as seen in the DAS Pro software is based on a period of 8, not 15. This helps explain the extremely fast movements of the indicator. Also, as discovered back in 2003, the "ADX" line mentioned by the OP is actually a DX line. See the attached document which has screen prints that will allow you to recreate it in Ensign if you wish. You will need to create a DYO indicator, using the settings shown in the second screen print in the word doc.
After playing around with it for several hours, I can tell you this much: On days where price trended nicely you could scalp 2-3 NQ points quite easily, assuming you stay away from the midday chop. However, on choppy, directionless days, it gets cut to pieces. At it's core, it's a momentum indicator, and like all indicators, it lags to a certain degree. You're usually buying when price is close to resistance, and selling when price is close to support. When price is trending, you're getting in on pullbacks, but usually right at the point when price is challenging its previous high/low. In a choppy market, this thing gives more headfakes than Kobe Bryant. Of course, if you can figure out the proper money management strategy, it wouldn't suprise me that you could make this a profitable strategy. I'm guessing the OP is successful with this strategy in part due to a hefty amount of screen time with this indicator, and has learned how to filter out the headfakes. He was also never explicit about his money management rules... the only thing he mentioned was bailing if the DMI lines crossed, but this seems to be a bit late, and seems to give you a larger average loss than your average gain on successful scalps.
I hope someone finds this info useful. FWIW, I do not trade full time (yet... been studing of and on for a few years (lurking here for three), plan to study for a couple more while earing a salary), so take my observations with a grain of salt, because they don't come from someone who trades professionally. I'm encouraged that the OP is able to trade such a simple strategy successfully, but I doubt you could trade this thing out of the box without getting to know its nuances.
In Ensign, and I suspect most apps, the actual setting for the PDI & MDI lines as seen in the DAS Pro software is based on a period of 8, not 15. This helps explain the extremely fast movements of the indicator. Also, as discovered back in 2003, the "ADX" line mentioned by the OP is actually a DX line. See the attached document which has screen prints that will allow you to recreate it in Ensign if you wish. You will need to create a DYO indicator, using the settings shown in the second screen print in the word doc.
After playing around with it for several hours, I can tell you this much: On days where price trended nicely you could scalp 2-3 NQ points quite easily, assuming you stay away from the midday chop. However, on choppy, directionless days, it gets cut to pieces. At it's core, it's a momentum indicator, and like all indicators, it lags to a certain degree. You're usually buying when price is close to resistance, and selling when price is close to support. When price is trending, you're getting in on pullbacks, but usually right at the point when price is challenging its previous high/low. In a choppy market, this thing gives more headfakes than Kobe Bryant. Of course, if you can figure out the proper money management strategy, it wouldn't suprise me that you could make this a profitable strategy. I'm guessing the OP is successful with this strategy in part due to a hefty amount of screen time with this indicator, and has learned how to filter out the headfakes. He was also never explicit about his money management rules... the only thing he mentioned was bailing if the DMI lines crossed, but this seems to be a bit late, and seems to give you a larger average loss than your average gain on successful scalps.
I hope someone finds this info useful. FWIW, I do not trade full time (yet... been studing of and on for a few years (lurking here for three), plan to study for a couple more while earing a salary), so take my observations with a grain of salt, because they don't come from someone who trades professionally. I'm encouraged that the OP is able to trade such a simple strategy successfully, but I doubt you could trade this thing out of the box without getting to know its nuances.
