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Price Momentum Oscillator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=61209
Forum: 17 · Topic 61209 · 18 post(s)
Price Momentum Oscillator
Apprentice · Mon Sep 22, 2014 6:20 am
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`
Non-standard Timeframe PMO.lua
Non-standard Timeframe PMO Helper.lua
Non-standard Timeframe PMO Helper with Alert.lua
Custom Smoothing Function
Apprentice · Mon Sep 22, 2014 11:25 am
I have reproduced Price Momentum Oscillator smoothing method. As shown has high correlation with Exponential Moving Average.
Re: Price Momentum Oscillator
ciclone · Sat Nov 07, 2015 12:28 pm
you can turn pmo.lua indicator to pmo.ex for MT4. It is possible:tank
Re: Price Momentum Oscillator
Apprentice · Mon Nov 09, 2015 5:58 am
Your request is added to the development list.
Re: Price Momentum Oscillator
Apprentice · Tue Nov 10, 2015 1:09 pm
Requested can be found here. viewtopic.php?f=38&t=62869&p=103294#p103294
Re: Price Momentum Oscillator
fxcyberman · Sat Nov 21, 2015 11:38 pm
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
Apprentice · Tue Nov 24, 2015 4:37 am
PMO Helper.lua added.
Re: Price Momentum Oscillator
fxcyberman · Tue Nov 24, 2015 1:20 pm
Thank you for your prompt action.
Re: Price Momentum Oscillator
diazr7777 · Sat Mar 05, 2016 1:34 am
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
newton · Sat Mar 05, 2016 4:14 am
hi,
can you create strategy based on this indicator,
buy level:0 sell level:0
buy : signal>buy level and pmo cross over signal sell: signal< sell level and pmo cross under signal.
Re: Price Momentum Oscillator
diazr7777 · Sat Mar 05, 2016 8:28 am
Hello Apprentice,
Would you kindly add the horizontal price lines at the crossing as well please? It would be nice if these lines can be accessed from FX Strategy Wizard when calling the indicator too. Cheers,
Ruben
Re: Price Momentum Oscillator
Apprentice · Sun Mar 06, 2016 5:48 am
Horizontal Line option added to PMO Helper.lua As for Strategy Wizard, You would need a function that will find these levels from within strategy.
Re: Price Momentum Oscillator
diazr7777 · Sun Mar 06, 2016 9:47 am
Hello Apprentice, that’s great thank you very much for adding the horizontal lines so quickly.
Cheers,
Ruben
Re: Price Momentum Oscillator
Apprentice · Sun Jul 30, 2017 11:04 am
The indicator was revised and updated.
Re: Price Momentum Oscillator
Apprentice · Wed Aug 30, 2017 6:40 am
PMO based strategy. viewtopic.php?f=31&t=65039&p=114568#p114568
Re: Price Momentum Oscillator
Apprentice · Mon Aug 27, 2018 5:08 am
The indicator was revised and updated.
Re: Price Momentum Oscillator
jrichardson83 · Thu Sep 27, 2018 9:50 pm
Hey Apprentice, you mind adding an Alert/Email function to the Non-Standard PMO and Non-Standard PMO Helper.
Thanks
Re: Price Momentum Oscillator
Apprentice · Fri Sep 28, 2018 7:05 am
Non-standard Timeframe PMO Helper with Alert.lua added.