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Dynamic Momentum Index for Metastock
martin3
over 10 years ago
Metastock

Rating:
0 / 5 (Votes 0)
Tags:
metastock, oscillator

Improved & fully adjustable Dynamic Momentum Index

Created By Jose Silva at MetastockTools.com

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Files

Indicator / Formula

Copy & Paste Friendly

MetaStock -> Tools -> Indicator Builder -> New Copy and paste formula

{ Jose's Dynamic Momentum Index v3.1, 0~100% }
{ ┬ęCopyright 2003-2004 Jose Silva }
{ http://www.metastocktools.com }

pds:=Input("avg DyMoIdx periods",3,252,21);
Stpds:=
 Input("Standard Deviation periods",2,252,5);
x:=Input("use Open=1 High=2 Low=3 Close=4 Volume=5 P=6",1,6,4);
plot:=Input("[1]Dynamic Momentum Idx,  [2]dynamic periods used",1,2,1);

x:=If(x=1,O,If(x=2,H,If(x=3,L,If(x=5,V,
 If(x=6,P,C)))));
Vt:=Stdev(x,Stpds)/Mov(Stdev(x,Stpds),10,S);
pds:=pds/(Vt+.14142);
pds:=If(pds>Cum(IsDefined(x))-13,
 Cum(IsDefined(x))-13,pds);
pds:=If(pds<2,2,pds);

Up:=If(x>Ref(x,-1),x-Ref(x,-1),0);
Dw:=If(x<Ref(x,-1),Ref(x,-1)-x,0);
UpAvg:=Up*2/pds+PREV*(1-2/pds);
DwAvg:=Dw*2/pds+PREV*(1-2/pds);
DyMoIdx:=
 100-(100/(1+UpAvg/If(DwAvg>0,DwAvg,.000001)));

If(plot=1,DyMoIdx,pds)

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