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

Favori Komutlardan Çıkart Favori Komutlara Ekle
//
// @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")
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
Cevap Gönder
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.
Cevap Gönder
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.
Cevap Gönder
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.
Cevap Gönder
LazyBear ChartArt
SMIIO is a custom SMI (diff params), as suggested by Anne-Marie Baiynd. More info:
Cevap Gönder
fabfoot LazyBear
So where do we find the code to the SMIIOColors indicator?
Cevap Gönder
fabfoot fabfoot
Never mind I figured it out sorry!
+2 Cevap Gönder
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

Cevap Gönder
You're the BEST, LazyBear. Thanks again!
+2 Cevap Gönder
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