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]

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):

V*PMO = EMA(3)(VTODAY,VTODAY-1,VTODAY-2)  Wrong?

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.

Many thx thrunner

[zazavaza]

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]

Hello!

Is it possible to use the VPCI indicator on the Forex market?
Does anybody have this indicator available for MT4?


Thank you!