LazyBear

DecisionPoint Price Momentum Oscillator [LazyBear]

The DecisionPoint Price Momentum Oscillator (PMO) is an oscillator based on a Rate of Change calculation that is smoothed twice with custom exponential moving averages. Because the PMO is normalized, it can also be used as a relative strength tool.

PMO can be used in many ways:
- PMO can be used to determine the OB/OS state. While the +2.5 to -2.5 is the usual range for broad stock market indexes, each price index will have its own “signature” range. You may have to tune this for your instrument.
- PMO triggers buy/sell on signal crossovers and ZERO crossovers.
- Common patterns like BullKiss, BearKiss are useful to track. See the link below for more info.
- Divergences.
- Histo-only mode that can be used similar to MACD-Histo.

I have exposed all params as configurable. Have fun tuning :) Don't forget to share what you found for your instrument.

More Info:
http://stockcharts.com/school/doku.php?st=pmo&id=chart_school:technical_indicators:dppmo

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970

Some Sample Charts:

TWTR:
snapshot

MSFT:
snapshot

GOOGL:
snapshot


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//
// @author LazyBear 
//
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
study(title="DecisionPoint Price Momentum Oscillator [LazyBear]", shorttitle="DPMO_LB")
src=input(close, title="Source")
length1=input(35, title="First Smoothing")
length2=input(20, title="Second Smoothing")
siglength=input(10, title="Signal Smoothing")
fr=input(true, title="Fill Region")
ehc=input(false, title="Enable Histo Color")
ebc=input(false, title="Enable Bar Colors")
soh=input(false, title="Show Only Histo")
slvl=input(false, title="Show OB/OS Levels")
oblvl=input(2.5, title="OB Level"), oslvl=input(-2.5, title="OS Level")
calc_csf(src, length) => 
	sm = 2.0/length
	csf=(src - nz(csf[1])) * sm + nz(csf[1])
	csf
i=(src/nz(src[1], src))*100
pmol2=calc_csf(i-100, length1)
pmol=calc_csf( 10 * pmol2, length2)
pmols=ema(pmol, siglength)
d=pmol-pmols
duml=plot(not soh and fr?(d>0?pmol:pmols):na, style=circles, color=gray, linewidth=0, title="DummyL")
plot(0, title="MidLine")
hc=d>0?d>d[1]?lime:green:d<d[1]?red:orange
plot(d, style=columns, color=ehc?hc:gray, transp=80, title="Histo")
sigl=plot(soh?na:pmols, title="PMO Signal", color=gray, linewidth=2, title="Signal")
mdl=plot(soh?na:pmol, title="PMO", color=black, linewidth=2, title="PMO")
fill(duml, sigl, green, transp=70, title="PosFill")
fill(duml, mdl, red, transp=70, title="NegFill")
barcolor(ebc?hc:na)
plot(not soh and slvl?oblvl:na, title="OB Level", color=gray, linewidth=2)
plot(not soh and slvl?oslvl:na, title="OS Level", color=gray, linewidth=2)
hey lazy bear really like your indicators.
i have saw a RAVI indicator scripted by you on
can u do some modification in RAVI for me. it is a request
can u make it in histogram mode similar to DecisionPoint Price Momentum Oscillator by you (4 color) and option to change the type of moving average ex:- EMA, WMA, 2EMA AND 3EMA
pls reply can u do this for me.
Reply
Nice job thanks!
Reply
great works,thanks, I'm trying to code PMO in mt4 following your codes
Reply
Hi, What is the indicator that draws the Red and Green horizontal support and resistance lines?
Reply
It is RSI S/R Levels. More info: http://blog.tradingview.com/?p=970
Reply
yah yah yah... but wheres my damn Shadow Channels?
Reply
LazyBear PRO Futuraman
You mean this one?
snapshot


ping me, we can work out a deal to make this "your" shadow channels. :P
Reply
Oh you are such a tease!!!
Reply
The word "excellent" was mentioned three times already in the comments and I add one (two) more. This indicator script is really excellent :) Thank you!
Reply
ChartArt ChartArt
FYI:

"Do PMO Sell Signals in All Three SPY Time Frames Spell Doom?"

"Currently for the S&P500, all three PMO signals (short-, medium-, and long-term) are in bearish mode."
http://stockcharts.com/articles/decisionpoint/2015/06/spy-do-pmo-sell-signals-in-all-three-time-frames-spell-doom.html
Reply
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