LazyBear

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:
https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
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//
// @author LazyBear 
// List of all my indicators: 
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
// 
study("Anchored Momentum [LazyBear]", shorttitle="AMOM_LB")
src=close
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")
p=2*l+1
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
hlc=(amom>amoms)?(amom<0?orange:green):(amom<0?red:orange)
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")
barcolor(eb?hlc:na)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

iamaltcoin
2 years ago
More great work. Thank you.
Reply
LazyBear PRO iamaltcoin
2 years ago
YW :)
Reply
Great stuff!
Reply
LazyBear PRO nunoedgar.fernandes
2 years ago
Thx.
Reply
ChartArt
2 years ago
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 PRO ChartArt
2 years ago
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
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