LazyBear

Composite Momentum Index [LazyBear]

This is a composite oscillator derived from modified 5/10/20 Chande's Dynamic Momentum Index values.

Volatility is factored in, by design. Look for OB/OS extremes and divergences.

I added the green/red ribbon look to make it easy to read :)

More info:
http://www.investopedia.com/terms/d/dyna...

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

Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?
//
// @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="Chande Composite Momentum Index [LazyBear]", shorttitle="CCMI_LB")
src=input(close, title="Source")
lenSmooth=input(3, title="Composite Smoothing Length")
trigg=input(5, title="Signal Length")
calc_dema(src, length) => 
	e1 = ema(src, length)
	e2 = ema(e1, length)
	2 * e1 - e2

cmo51=sum( iff( src >  src[1] , ( src -  src[1] ) ,0 ) ,5 ) 
cmo52=sum( iff( src <  src[1] , ( src[1] - src )  ,0 ) ,5 )
cmo5=calc_dema(100 * nz(( cmo51 - cmo52)  /( cmo51+cmo52)),3)
cmo101=sum( iff( src >  src[1] , ( src -  src[1] ) ,0 ) ,10 ) 
cmo102=sum( iff( src <  src[1] , ( src[1] - src )  ,0 ) ,10 )
cmo10=calc_dema(100 * nz(( cmo101 - cmo102)  /( cmo101+cmo102)),3)
cmo201=sum( iff( src >  src[1] , ( src -  src[1] ) ,0 ) ,20 ) 
cmo202=sum( iff( src <  src[1] , ( src[1] - src )  ,0 ) ,20 )
cmo20=calc_dema(100 * nz(( cmo201 - cmo202)  /( cmo201+cmo202)),3)
dmi=((stdev(src,5)* cmo5)+(stdev(src,10)* cmo10)+(stdev(src,20)*cmo20))/(stdev(src,5)+stdev(src,10)+stdev(src,20))
e=ema(dmi,lenSmooth), s=sma(dmi,trigg)
hline(70,color=red, title="High2")
ul=hline(30,color=green, title="High1")
hline(0, color=black, title="Mid")
ll=hline(-30,color=green, title="Low1")
hline(-70,color=red, title="Low2")
fill(ul,ll,black, title="MidRegionFill")
duml=plot(e>s?s:e, style=circles, linewidth=0, color=gray, title="Dummy")
cmil=plot(e,title="DynamicIndex",color=blue)
tl=plot(s,title="trigger",color=red) 
fill(cmil, duml, color=lime, transp=50, title="PositiveFill")
fill(tl, duml, color=red, transp=50, title="NegativeFill")
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Bình luận

Hello
How can I have this Indicator "Composite Momentum Index"? I would like to using in my trades. How much is the cost.

Waiting for your response

Carlos
+23 Phản hồi
You're the BEST, LazyBear. Thanks again!
+3 Phản hồi
LazyBear grahvity
Thanks @grahvity
+2 Phản hồi
Thanks LB!
+2 Phản hồi
LazyBear accidentje
YW :)
+2 Phản hồi
Fishnet -- simple EMAs that catch "all possible" (!?) price movements


Just another old script I found yesterday in my archive -- not planning to publish this separately. If you want to try it out, source below.

200EMAs - http://pastebin.com/AcqLvfVn
150EMAs - http://pastebin.com/QQWkSZyV

+1 Phản hồi
Thank you LazyBear for sharing this 'Composite Momentum Index' by Tushar Chande. I noticed a small similarity to William Blau's 'Stochastic Momentum Index', so I created a comparison. Both indicators in my test use the default signal period 5 and a smoothing period of 3:




(I removed your cool color feature for a clearer comparison)
























Conclusion: There does not seem to be a clear winner in this comparison, so my recommendation would be to use both indicators to watch the momentum. Here is the 'Stochastic Momentum Index' coded by UCS Gears:


P.S. Both technical analysts are engineers. Tushar Chande holds a Ph.D. in metallurgical engineering from the University of Illinois. And William Blau holds a bachelor's degree in electrical engineering from NYU and a master's in systems engineering and operations research from the University of Pennsylvania.
Phản hồi
LazyBear ChartArt
Thanks for the comparison. SMI has TSI in its core (& 5 is the "ergodic" according to Blau), while CMO derives from MOM indirectly too. So, no wonder they all look alike at the end of the day :)

BTW, this is the SMIIO vs the inbuilt SMI vs CMI.
Phản hồi
ChartArt LazyBear
Now I get confused. What is the difference between:

Blau's SMII / SMIIO (SMI Ergodic Indicator/Oscillator)
Blau's SMI (Stochastic Momentum Index)

When I set the build-in SMIIO to the same periods as the SMI from UCS then I don't get the same result, The SMI seems to be smoother than the SMIIO.
Phản hồi