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.
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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 1487 times
- Non-standard Timeframe PMO.lua
- (6.15 KiB) Downloaded 718 times
- PMO Helper.lua
- (5.38 KiB) Downloaded 1044 times
- Non-standard Timeframe PMO Helper.lua
- (7.26 KiB) Downloaded 699 times
- Non-standard Timeframe PMO Helper with Alert.lua
- (16.22 KiB) Downloaded 671 times
