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

Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích
//
// @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

You're the BEST, LazyBear. Thanks again!
+2 Phản hồi
LazyBear grahvity
Thanks @grahvity
+1 Phản hồi
Thanks LB!
+1 Phản hồi
LazyBear accidentje
YW :)
+1 Phản hồi
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
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
LazyBear ChartArt
SMIIO is a custom SMI (diff params), as suggested by Anne-Marie Baiynd. More info:
Phản hồi
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