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Momentum Indicator (MOM)

Relative Momentum Index The Relative Momentum Index (RMI) was developed by Roger Altman. Impressed with the Relative Strength Index's sensitivity to the number of look-back periods, yet frustrated with it's inconsistent oscillation between defined overbought and oversold levels, Mr. Altman added a momentum component to the RSI. As mentioned, the RMI is a variation of the RSI indicator. Instead of counting up and down days from close to close as the RSI does, the RMI counts up and down days from the close relative to the close x-days ago where x is not necessarily 1 as required by the RSI). So as the name of the indicator reflects, "momentum" is substituted for "strength".
Pine Script™ indicator
by HPotter
9
Indicator: Intrady Momentum IndexThe Intraday Momentum Index (IMI), developed by Tushar Chande, is a cross-breed between RSI and candlestick analysis. IMI determines the candle type that dominated the recent price action, using that to pinpoint the extremes in intraday momentum. As the market tries to bottom after a sell off, there are gradually more candles with green bodies, even though prices remain in a narrow range. IMI can be used to detect this shift, because its values will increase towards 70. Similarly, as the market begins to top, there will be more red candles, causing IMI to decline towards 20. When the market is in trading range, IMI values will be in the neutral range of 40 to 60. Usually intraday momentum leads interday momentum. QStick can show interday momentum, it complements IMI. You will find it in my published indicators. I have added volatility bands based OB/OS, in addition to static OB/OS levels. You can also turn on IMI Ehlers smoothing. BTW, all parameters are configurable, so do check out the options page. List of my other indicators: - - Google doc: docs.google.com
Pine Script™ indicator
by LazyBear
14
Indicators: MMA and 3 oscillatorsGuppy Multiple Moving Averages --------------------------------- Developed by Daryl Guppy, the basic idea of Multiple moving average(MMA) is to view the trend as two band of moving averages – short term band and long term band. Shortterm averages capture the inferred behaviour of traders and long term represents the investors. Uses fractal repetition to identify points of agreement and disagreement which precede significant trend changes. Short intro on interpreting the signals: drive.google.com More info: www.guppytraders.com Guppy Oscillator --------------------------------- The Guppy MMA Oscillator, developed by Leon Wilson, is an oscillator representation of difference between GMMA ribbons. Look for signal crosses for the triggers. Linda Raschke (3/10) Oscillator --------------------------------- This oscillator is similar to having a MACD of (3,10,16), the nuances are explained by Linda Raschke in her manual "Professional Trading Techniques": www.lbrgroup.com Ian Oscillator --------------------------------- Simple EMA difference converted to an oscillator. Use the signal crosses as triggers.
Pine Script™ indicator
by LazyBear
15
Dynamic Momentum Index (DMI) This indicator plots Dynamic Momentum Index indicator. The Dynamic Momentum Index (DMI) was developed by Tushar Chande and Stanley Kroll. The indicator is covered in detail in their book The New Technical Trader. The DMI is identical to Welles Wilder`s Relative Strength Index except the number of periods is variable rather than fixed. The variability of the time periods used in the DMI is controlled by the recent volatility of prices. The more volatile the prices, the more sensitive the DMI is to price changes. In other words, the DMI will use more time periods during quiet markets, and less during active markets. The maximum time periods the DMI can reach is 30 and the minimum is 3. This calculation method is similar to the Variable Moving Average, also developed by Tushar Chande. The advantage of using a variable length time period when calculating the RSI is that it overcomes the negative effects of smoothing, which often obscure short-term moves. The volatility index used in controlling the time periods in the DMI is based on a calculation using a five period standard deviation and a ten period average of the standard deviation.
Pine Script™ indicator
by HPotter
7