The DecisionPoint Price Momentum Oscillator (PMO

The DecisionPoint Price Momentum Oscillator (PMO) is an oscillator based on a Rate of Change
calculation that is smoothed twice with custom exponential moving averages. Because the PMO is
normalized, it can also be used as a relative strength tool.

PMO can be used in many ways:

- PMO can be used to determine the OB/OS state. While the +2.5 to -2.5 is the usual range for broad
stock market indexes, each price index will have its own “signature” range. You may have to tune this for
your instrument.

- PMO triggers buy/sell on signal crossovers and ZERO crossovers.

- Common patterns like BullKiss, BearKiss are useful to track. See the link below for more info.

- Divergences.

- Histo-only mode that can be used similar to MACD-Histo.

//

// @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="DecisionPoint Price Momentum Oscillator [LazyBear]", shorttitle="DPMO_LB")

src=input(close, title="Source")

length1=input(35, title="First Smoothing")

length2=input(20, title="Second Smoothing")

siglength=input(10, title="Signal Smoothing")

fr=input(true, title="Fill Region")

ehc=input(false, title="Enable Histo Color")

ebc=input(false, title="Enable Bar Colors")

soh=input(false, title="Show Only Histo")

slvl=input(false, title="Show OB/OS Levels")

oblvl=input(2.5, title="OB Level"), oslvl=input(-2.5, title="OS Level")

calc_csf(src, length) =>

sm = 2.0/length

csf=(src - nz(csf[1])) * sm + nz(csf[1])

csf

i=(src/nz(src[1], src))*100

pmol2=calc_csf(i-100, length1)

pmol=calc_csf( 10 * pmol2, length2)

pmols=ema(pmol, siglength)

d=pmol-pmols

duml=plot(not soh and fr?(d>0?pmol:pmols):na, style=circles, color=gray, linewidth=0, title="DummyL")

plot(0, title="MidLine")

hc=d>0?d>d[1]?lime:green:d<d[1]?red:orange

plot(d, style=columns, color=ehc?hc:gray, transp=80, title="Histo")

sigl=plot(soh?na:pmols, title="PMO Signal", color=gray, linewidth=2, title="Signal")

mdl=plot(soh?na:pmol, title="PMO", color=black, linewidth=2, title="PMO")

fill(duml, sigl, green, transp=70, title="PosFill")

fill(duml, mdl, red, transp=70, title="NegFill")

barcolor(ebc?hc:na)

plot(not soh and slvl?oblvl:na, title="OB Level", color=gray, linewidth=2)

plot(not soh and slvl?oslvl:na, title="OS Level", color=gray, linewidth=2)