Price Momentum Oscillator

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Price Momentum Oscillator

Postby Apprentice » Mon Sep 22, 2014 6:20 am

pmo.png


Price Momentum Oscillator (PMO) is an oscillator based on a Rate of Change (ROC) calculation that is smoothed twice with exponential moving averages that use a custom smoothing process. Because the PMO is normalized, it can also be used as a relative strength tool.

Code: Select all
Smoothing Multiplier = (2 / Time period)

Custom Smoothing Function = {Close - Smoothing Function(previous day)} *
 Smoothing Multiplier + Smoothing Function(previous day)

PMO Line = 20-period Custom Smoothing of
(10 * 35-period Custom Smoothing of
 ( ( (Today's Price/Yesterday's Price) * 100) - 100) )

PMO Signal Line = 10-period EMA of the PMO Line


PMO.lua
(4.58 KiB) Downloaded 963 times

Non-standard Timeframe PMO.lua
(6.15 KiB) Downloaded 271 times

EURUSD m1 (11-24-2015 1001).png

PMO Helper.lua
(5.38 KiB) Downloaded 595 times

Non-standard Timeframe PMO Helper.lua
(7.26 KiB) Downloaded 265 times

Non-standard Timeframe PMO Helper with Alert.lua
(16.22 KiB) Downloaded 242 times
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Apprentice
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Custom Smoothing Function

Postby Apprentice » Mon Sep 22, 2014 11:25 am

Custom Smoothing Function.png

I have reproduced Price Momentum Oscillator smoothing method.
As shown has high correlation with Exponential Moving Average.
Custom Smoothing Function.lua
(2.65 KiB) Downloaded 630 times
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Re: Price Momentum Oscillator

Postby ciclone » Sat Nov 07, 2015 12:28 pm

you can turn pmo.lua indicator to pmo.ex for MT4. It is possible:tank
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Re: Price Momentum Oscillator

Postby Apprentice » Mon Nov 09, 2015 5:58 am

Your request is added to the development list.
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Re: Price Momentum Oscillator

Postby fxcyberman » Sat Nov 21, 2015 11:38 pm

Hello, Apprentice.
Would you kindly add a drawing lines into this indicator ?
i.e. when PMO crossover signal line and PMO crossunder signal line , draw a vertical and horizontal line on the main chart as the attached image.
Attachments
sample.jpg
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Re: Price Momentum Oscillator

Postby fxcyberman » Tue Nov 24, 2015 1:20 pm

Thank you for your prompt action. :) :)
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Re: Price Momentum Oscillator

Postby diazr7777 » Sat Mar 05, 2016 1:34 am

Hello,

I just wondering if you've managed to make this indicator with the horizontal drawing lines included?
Also would like to have the horizontal lines available to be called from FX Strategy Wizard if possible.
I would be nice if I could have that code in Lua too please? Happy to pay for the extra effort.

Cheers,
Ruben
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Re: Price Momentum Oscillator

Postby newton » Sat Mar 05, 2016 4:14 am

hi,

can you create strategy based on this indicator,

    buy level:0
    sell level:0

buy : signal>buy level and pmo cross over signal
sell: signal< sell level and pmo cross under signal.
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