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Price_Momentum_Oscillator - indicator for MetaTrader 5
- Views:
- 7516
- Rating:
- Published:
- 2018.12.28 13:09
- Updated:
- 2019.01.17 11:29
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Indicator Price Momentum Oscillator. It is based on the double-smoothed rate of change (ROC).
It has three adjustable parameters:
- Period one - primary smoothing period
- Period two - secondary smoothing period
- Signal period - signal line smoothing period
Calculations:
PMO = Smoothing2
Signal = AvgPMO
where:
Smoothing1 = (Raw1 - PrevSmoothing1) * sm1+PrevSmoothing1
Smoothing2 = (Raw2 - PrevSmoothing2) * sm2+PrevSmoothing2
Raw1 = (((Close / PrevClose) * 100.0) - 100.0)
Raw2 = 10.0 * Smoothing1
sm1 =2.0/Period one
sm2 = 2.0/Period two
AvgPMO = EMA(PMO, Signal period)
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22709
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