Anchored Momentum [LazyBear]

Anchored Momentum (AMOM), by Rudy Stefenel, is a modified momentum indicator to capture the relative momentum. AMOM uses SMA as the reference for deriving momentum, thereby anchoring it to that MA rather than "value of close n bars back".

Mr.Stefenel suggests using this like other oscillators -- crossing signal line, crossing zero, divergences.

For alerts, use "Momentum", "Signal" and "ZeroLine" plots.

Configurable options:
- Momentum Period: Default is 10.
- Signal Period: Default is 8.
- Smooth Momentum: Default is FALSE. If TRUE, enables EMA (close) to be used rather than "close".
- Smoothing Period: Default is 7. If momentum smoothing is enabled, this period is used.
- Show Histogram: Default is FALSE. This is not histogram per se (indicator - signal), but is used for highlighting the crosses. Check out the histogram pane below to see an example.
- Enable Barcolors: Default is FALSE. If enabled, colors the price data (bars/candles) using histogram color.

More info:
Anchored Momentum, Stocks & Commodities V16:2 (89-98)

Complete list of all my indicators:
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// @author LazyBear 
// List of all my indicators: 
study("Anchored Momentum [LazyBear]", shorttitle="AMOM_LB")
l=input(10, title="Momentum Period")
sl=input(8, title="Signal Period")
sm=input(false, title="Smooth Momentum")
smp=input(7, title="Smoothing Period")
sh=input(false, title="Show Histogram")
eb=input(false, title="Enable Barcolors")
amom=100*(((sm?ema(src,smp):src)/(sma(src,p)) - 1))
amoms=sma(amom, sl)
hline(0, title="ZeroLine")
hl=sh ? amoms<0 and amom<0 ? max(amoms, amom) : amoms>0 and amom>0 ? min(amoms, amom) : 0 : na
plot(sh?hl:na, style=histogram, color=hlc, linewidth=2)
plot(amom, color=red, linewidth=2, title="Momentum")
plot(amoms, color=green, linewidth=2, title="Signal")
Thank you very much LazyBear for creating and sharing this indicator. From my first test with the Bitcoin price it looks like a really helpful indicator. Most people are mainly going to like the red and green colors. But I like the very few wrong signals and that it is still quite early with them in the higher risk below 0 area. Useful to very easily determine low risk/ high reward areas with this indicator. It's a keeper :)
+1 Reply
LazyBear ChartArt
Thanks Chartart. Now, all i need to do is find a way for my indicators to send me 10% of all the profits made using them :)
+1 Reply
Great stuff!
LazyBear nunoedgar.fernandes
More great work. Thank you.
LazyBear iamaltcoin
YW :)
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