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BODY Momentum by Perry Kaufman for Metastock
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5 / 5 (Votes 1)
Tags:
metastock, oscillator
Body Momentum is a trading indicator described in Perry Kaufman’s book. It is an oscillator type indicator that moves between 0 and 100 and computes the percentage of bars that closed above the open price (white/green candle) during a specific period.
A period of 10 and a value of 100 for the body momentum indicator indicate that for the past 10 bars, the stock has always closed above its open price.
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Indicator / Formula
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Lb:=Input("Look-Back Period?",3,60,14);
B:=CLOSE - OPEN;
Bup:= Sum(B > 0, Lb);
Bdn:= Sum(B < 0, Lb);
BM:=(Bup/(Bup+Bdn))*100;
Mov(Bm,3,S)
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