Hello,
I have been searching for the MT4 version of the "DecisionPoint Price Momentum Oscillator" (DPMO), without success so far.
So I ask if a coder would be kind enough to develop it.
(Alternatively if someone already has it, please post it).
The information I have is as follows:
-> It was originally developed for stocks but it seems to have very good potential in fx as well.
A guy that calls himself lazy bear mentions it on trading view (which I don't use).
-> Techical info about dpmo can be found here:
https://school.stockcharts.com/doku....dicators:dppmo
From there I extracted the following:
Calculation
The DecisionPoint Price Momentum Oscillator is derived by taking a 1-period rate of change and smoothing it with two custom smoothing functions. The custom smoothing functions are very similar to Exponential Moving Averages, but, instead of adding one to the time period setting to create the smoothing multiplier (as in a true EMA), the smoothing functions just use the period by itself.
Smoothing Multiplier = (2 / Time period)
Custom Smoothing Function = {Close - Smoothing Function(previous day)} * Smoothing Multiplier + Smoothing Function(previous day)
PMO Line = 20-period Custom Smoothing of (10 * 35-period Custom Smoothing of ( ( (Today's Price/Yesterday's Price) * 100) - 100) )
PMO Signal Line = 10-period EMA of the PMO Line
If I understand it correctly, the indicator will have 3 parameters (default 35, 20, 10): the first 2 are the periods of the smoothing functions, and the third the EMA period of the pmo line.
Thank you .
I have been searching for the MT4 version of the "DecisionPoint Price Momentum Oscillator" (DPMO), without success so far.
So I ask if a coder would be kind enough to develop it.
(Alternatively if someone already has it, please post it).
The information I have is as follows:
-> It was originally developed for stocks but it seems to have very good potential in fx as well.
A guy that calls himself lazy bear mentions it on trading view (which I don't use).
-> Techical info about dpmo can be found here:
https://school.stockcharts.com/doku....dicators:dppmo
From there I extracted the following:
Calculation
The DecisionPoint Price Momentum Oscillator is derived by taking a 1-period rate of change and smoothing it with two custom smoothing functions. The custom smoothing functions are very similar to Exponential Moving Averages, but, instead of adding one to the time period setting to create the smoothing multiplier (as in a true EMA), the smoothing functions just use the period by itself.
Smoothing Multiplier = (2 / Time period)
Custom Smoothing Function = {Close - Smoothing Function(previous day)} * Smoothing Multiplier + Smoothing Function(previous day)
PMO Line = 20-period Custom Smoothing of (10 * 35-period Custom Smoothing of ( ( (Today's Price/Yesterday's Price) * 100) - 100) )
PMO Signal Line = 10-period EMA of the PMO Line
If I understand it correctly, the indicator will have 3 parameters (default 35, 20, 10): the first 2 are the periods of the smoothing functions, and the third the EMA period of the pmo line.
Thank you .
