Volume + Price Action Momentum Indicator

[Guest Tresor]

Hello Guys,

 

I came across an indicator that is a combination of volume nad price nad shows momentum on both:

 

http://www.positiveterritory.com/do/tw/vpmo11.htm

 

Are you using this or pehaps can you code it in easy language for MultiCharts?

 

Regards

[thrunner 10]

http://www.positiveterritory.com/do/tw/vpmo11.htm
Definitions, Formulas:
As its name states, Volume * Price Momentum Oscillator (V*PMO) is both a price and volume momentum oscillator. To compute it we

First, calculate today’s V*PMO input value:

VTODAY * (CPTODAY – CPTODAY-1)

where

VTODAY = today’s volume
CPTODAY = today’s closing price
CPTODAY-1 = yesterday’s closing price

Then smooth the values using a 3-day exponential moving average (EMA):

[b][color="DarkOrange"]V*PMO = EMA(3)(VTODAY,VTODAY-1,VTODAY-2) [/color][/b]  [color="DarkOrange"]Wrong?[/color]

 

TS code:

Input: Price (C);
Var: VPMO (0);

VPMO = XAverage( V * (Price - Price[1]), 3) ;

Plot1( VPMO, "VPMO" ) ;
Plot2( 0, "Zero");

Condition1 = Plot1 crosses over Plot2 ;
Condition1 = Plot1 crosses under Plot2 ;
if Condition1 then
Alert( "Positive VPMO" ) ;
if Condition2 then
Alert( "Negative VPMO" ) ;

 

This indicator is not very good at representing price and volume, try something like VPCI instead.

[Guest Tresor]

Many thx thrunner

[zazavaza 10]

Hi,thrunner!Can i ask you?Can you send me indicators for metatrader VPMO and VPCI!

I will be very hepy if you send me them! kmmyemail@ukr.net

[fore714 10]

Hello!

 

Is it possible to use the VPCI indicator on the Forex market?

Does anybody have this indicator available for MT4?

 

 

Thank you!

Edited March 4, 2010 by fore714
incomplete post