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Price Momentum Oscillator for Amibroker (AFL)

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0 / 5 (Votes 0)
Tags:
amibroker, oscillator

Tried to develop Price Momentum Oscillator, reference DecisionPoint Price Momentum Oscillator (PMO). Please check before any use.

Indicator / Formula

Copy & Paste Friendly
// PMO
/*
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
*/

Y = EMA((((C/Ref(C,-1)) * 100)-100),35)*10;

PMO = EMA(Y,20);

PMOSL = EMA(PMO,10);

Plot(PMO, "PMO", colorBlue, styleLine, Null, Null, 0, 0, 1 );
Plot(PMOSL, "Sl", colorRed, styleLine, Null, Null, 0, 0, 1 );

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