Price Momentum Oscillator
Posted:
Mon Sep 22, 2014 6:20 amby Apprentice
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 1487 times
Custom Smoothing Function
Posted:
Mon Sep 22, 2014 11:25 amby Apprentice
I have reproduced Price Momentum Oscillator smoothing method.
As shown has high correlation with Exponential Moving Average.
Re: Price Momentum Oscillator
Posted:
Sat Nov 07, 2015 12:28 pmby ciclone
you can turn pmo.lua indicator to pmo.ex for MT4. It is possible:tank
Re: Price Momentum Oscillator
Posted:
Mon Nov 09, 2015 5:58 amby Apprentice
Your request is added to the development list.
Re: Price Momentum Oscillator
Posted:
Tue Nov 10, 2015 1:09 pmby Apprentice
Re: Price Momentum Oscillator
Posted:
Sat Nov 21, 2015 11:38 pmby fxcyberman
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.
Re: Price Momentum Oscillator
Posted:
Tue Nov 24, 2015 1:20 pmby fxcyberman
Thank you for your prompt action.
Re: Price Momentum Oscillator
Posted:
Sat Mar 05, 2016 1:34 amby diazr7777
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
Re: Price Momentum Oscillator
Posted:
Sat Mar 05, 2016 4:14 amby newton
hi,
can you create strategy based on this indicator,
buy : signal>buy level and pmo cross over signal
sell: signal< sell level and pmo cross under signal.