fxcodebase-backup
Body momentum
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=73353
Forum: 17 · Topic 73353 · 1 post(s)
Body momentum
Apprentice · Wed Feb 08, 2023 10:59 am
Based on the source https://www.prorealcode.com/prorealtime … scillator/
described by Perry Kaufman.
This simply calculates the momentum of the closes above the opens versus the closes below the opens.
The theory is that as prices move up, closing prices will be higher than opening prices and vice-versa for down.
Above 70 then the Up candles dominate Below 30 then the Down candles dominate